Reporting From the Front...
What do you think of when you hear about someone reporting from the front?
The first thing that comes to mind for me were the war correspondents during the Viet Nam era.
I loved to see the correspondents like Walter Cronkite reporting from the scene of the action.
Nowadays, you see it on CNN everyday. When the recent war in Lebanon broke out, we saw lots of correspondents reporting from the fronts.
When you get to be up close to the action, you see things very differently than when you are seeing them reported to you from afar.
Now that I'm a full time Bank on YourselfTM Consultant, I see what's going on in the average American's finances many times a week.
With the steady flow of clients coming to my office to review their financial goals and look at the potential to use Bank on YourselfTM, it is now obvious to me that for the mostpart, most people are struggling big time.
It's not at all their fault. They've just never been taught properly.
One of the questions I ask each client is what age they'd like to retire at.
Guess what most people say?
60 or 65.
Then I'll ask them how much income they want coming in every month once they retire.
Many say $7,000 to $10,000.
Here's a valuable lesson for you to remember.
The last generation retired at 65 after working 40 years for the same company. They had their pension plan, they had social security, and they had their savings.
By the time they were 75, they were gone.
In total, they had to finance 10 years of retirement.
But the world is not the same anymore.
People retiring at 60 today will live into their mid 80's. That means they'll have to finance 25 years of retirement or more!
Will they be able to count on Social Security? What do you really think?
Will they be able to count on a company pension plan? Not likely!
Who will they have to count on?
If you retire at 60 and want have $5,000 of income every month, you need to build a large nestegg.
$5,000 a month is $60,000 a year. Over 25 years, that amounts to $1.5 million.
If you've saved $200,000, you're about a million dollars short!
Unfortunately, most people don't even have close to $200,000. Yet, they are hoping for a comfortable retirement.
My observation is that most people are horrible money managers. And as a result, most people are not prepared for their financial futures.
I truly enjoy educating my clients and helping them improve their financial lives, now and in the future.
And one of the things that I can't stress enough is that you have to understand that you control your financial future.
Saving $100,000 or $200,000 isn't going to be enough to last you 25 years of retirement. You have got to begin today to change your financial life to allow you a decent lifestyle in the future.
A very unique way to find money to save for your future without sacrificing your present is to find "transferred dollars", dollars that you are losing unknowingly and unnecessarily.
In the programs I create for my clients, I focus on recapturing these lost dollars, and put them mostly into their savings and investments for a more secure future, and the rest into their lifestyle so that they can enjoy the present a little more.
You can do yourself a huge favor by going to findoutmorenow.com right now and entering the passcode JF55. You'll get to download a report that explains how you can begin to Bank on Yourself and take control of your financial life.
I'm licensed in Arizona and California, and can help find you a certified Bank on Yourself consutant in other parts of the U.S. and Canada.
Namaste.
Jeff
The first thing that comes to mind for me were the war correspondents during the Viet Nam era.
I loved to see the correspondents like Walter Cronkite reporting from the scene of the action.
Nowadays, you see it on CNN everyday. When the recent war in Lebanon broke out, we saw lots of correspondents reporting from the fronts.
When you get to be up close to the action, you see things very differently than when you are seeing them reported to you from afar.
Now that I'm a full time Bank on YourselfTM Consultant, I see what's going on in the average American's finances many times a week.
With the steady flow of clients coming to my office to review their financial goals and look at the potential to use Bank on YourselfTM, it is now obvious to me that for the mostpart, most people are struggling big time.
It's not at all their fault. They've just never been taught properly.
One of the questions I ask each client is what age they'd like to retire at.
Guess what most people say?
60 or 65.
Then I'll ask them how much income they want coming in every month once they retire.
Many say $7,000 to $10,000.
Here's a valuable lesson for you to remember.
The last generation retired at 65 after working 40 years for the same company. They had their pension plan, they had social security, and they had their savings.
By the time they were 75, they were gone.
In total, they had to finance 10 years of retirement.
But the world is not the same anymore.
People retiring at 60 today will live into their mid 80's. That means they'll have to finance 25 years of retirement or more!
Will they be able to count on Social Security? What do you really think?
Will they be able to count on a company pension plan? Not likely!
Who will they have to count on?
If you retire at 60 and want have $5,000 of income every month, you need to build a large nestegg.
$5,000 a month is $60,000 a year. Over 25 years, that amounts to $1.5 million.
If you've saved $200,000, you're about a million dollars short!
Unfortunately, most people don't even have close to $200,000. Yet, they are hoping for a comfortable retirement.
My observation is that most people are horrible money managers. And as a result, most people are not prepared for their financial futures.
I truly enjoy educating my clients and helping them improve their financial lives, now and in the future.
And one of the things that I can't stress enough is that you have to understand that you control your financial future.
Saving $100,000 or $200,000 isn't going to be enough to last you 25 years of retirement. You have got to begin today to change your financial life to allow you a decent lifestyle in the future.
A very unique way to find money to save for your future without sacrificing your present is to find "transferred dollars", dollars that you are losing unknowingly and unnecessarily.
In the programs I create for my clients, I focus on recapturing these lost dollars, and put them mostly into their savings and investments for a more secure future, and the rest into their lifestyle so that they can enjoy the present a little more.
You can do yourself a huge favor by going to findoutmorenow.com right now and entering the passcode JF55. You'll get to download a report that explains how you can begin to Bank on Yourself and take control of your financial life.
I'm licensed in Arizona and California, and can help find you a certified Bank on Yourself consutant in other parts of the U.S. and Canada.
Namaste.
Jeff
posted by Jeff Fagin at 8:24 PM
3 Comments:
Jeff,
I was heading that direction until I smartened up and realized that I don't want to be broke for ever.
Now that I have COMMITTED to doing whatever I have to in order to be financially free, I plan on trying to spread the word. I know a few people that are in some serious trouble.
Jeff
That is a sad report. We need more soldiers.
Larry E.
Good point. We need to think big. I did not know or realize what the avg. person had. It was a real eye opener. Thanks
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