Everyone and their mother have an opinion about how best to save for retirement.
Some say rely on Social Security; others say you need millions.
Loads of other nonsense populates the mainstream media.
You need to hear the truth about retirement, and it’s not what everyone is telling you.
But don’t worry.
I’ll show you how to escape retirement suicide right now.
If you know anything about investing, chances are you’ve heard the phrase “diversify.”
As annoying as it may be to hear again, I promise diversifying the way you save for retirement will make sure you don’t end up spending your golden years bagging groceries.
The key to shuffling through all the madness is to realize that everyone is wrong in some way.
The special guest on the news telling you to ride Social Security payments into the sunset: wrong.
The 20-something journalist writing a column on living interest-only: wrong.
The Wall Street swindler promising to double your entire nest egg in an investment account: wrong.
As an intelligent pre-retiree, you know that taking the advice of just one of these so-called experts is retirement suicide.
You can’t put all of your money, and your future quality of life, in one poorly-made basket.
Chances are if these experts promise one simple solution to support yourself for the rest of your life, they don’t know the half of what it means to retire.
The only way to avoid losing all your eggs in one doomed basket is simple: diversify.
So, let me paint a picture for you.
Research shows that pre-retirement age workers believe that they can live on half of their current salary once they retire due to the decrease in their expenditures.
I’m sorry, but are we talking about the same thing here?
You’re going from a 9-5 job where you only have so many hours in the week to spend money.
You have to ask permission to take a vacation to blow some cash, and how much money can you really spend on an hour lunch break?
The claim that the price of your daily commute and work-related expenses make up half of your outcome is ridiculous.
Public voices seldom acknowledge that retirement is the official release of a person who has worked multiple decades paying to live.
And now they have no bounds on their time, happiness, or freedom.
It is unrealistic to expect that their expenses will go down, considering how much more they could go up with vacations, shopping sprees, and feel-good purchases.
Another thing to consider is healthcare. Retirement gurus will say having emergency savings is enough.
They don’t realize that retirement generally means walking out on a stable health insurance plan.
And when thousands of Americans admit to not knowing how Medicare works, how can they expect savings to cover the hundreds of thousands of dollars health insurance won’t?
You see, these talking heads don’t have your interests at heart.
They just want to scare you into whatever method they think is best, with little to no consideration of how it will affect you or your family.
Be smart with the best years of your life.
Start investment accounts. Don’t tap into Social Security too early. Save more than you think will be enough. Use interest rates to your advantage, but don’t rely on them. Do research to figure out exactly what your Medicare will cover.
Retirement is the first page to a new chapter. Don’t start it out on a sour note. With the right tools and mindset, you can write a beautiful future for yourself.