Setting yourself up for retirement can seem like a daunting task… and if you’re like half of Americans, you have no retirement savings at all.
But don’t worry, I’m here to tell you that it’s never too late to start preparing for your retirement.
And today, I’m going to show you how you can set yourself up with a dream retirement using 3 simple pillars.
First, you have to be honest with yourself about your spending.
Basically, by this I’m talking about the dollar amount that you need to live on.
Be thorough when you do this because you don’t want to be like 75% of Americans who underestimate how much money they need in retirement. This should be avoided at all costs.
Then you need to figure out how you’re going to get the money to cover the projected cost of your retirement.
Now the secret to reaching your retirement goal and accumulating wealth is by taking advantage of the 3 pillars of wealth.
What are the 3 pillars?
1. Real estate
3. Financial Markets
I’ll start with real estate.
The key to investing in real estate is to have your money working for you and not you working for your money. This means you need to be generating enough money from the property to cover the expense of the investment.
The idea is also to have your investment appreciate in time.
There are ways to increase the odds of making huge gains in property value over time.
For more on this go here.
Business is the 2nd pillar I’ll talk about.
Starting a business may seem like a scary proposition, but it’s not that difficult.
First, you need to come up with a product or service that people need.
After you determine what product or service you’re going to offer, you need to get word to potential customers of your new service or product.
Then you have to sell your product or service. And the key here is after you’ve gained a
customer to keep this customer engaged. This will lead to repeat business.
Once your business is running smoothly, hire someone for a fraction of the business’ profits. Now you have an income stream without having to lift a finger.
The 3rd pillar is financial.
Specifically, I’m talking about investing. I know you may be fearful of the markets, but it’s not complicated. The key here is to develop a plan and actually follow through with it.
Don’t be one of those people who want to make their money work for them, but never take any action. Lucky for you, we offer trading systems and services that’ll show you exactly how to do this.
One way to get your feet wet in the financial markets is to go ahead and get shares in an index fund, like the S&P 500 ($SPX). This earns historically 9% a year, on average, and in 2017 it gained an incredible 19.3%.
So, put these 3 pillars to work and secure your retirement.
Here’s to the retirement of your dreams.