In this run about world today of roller coaster investments and sketchy funding, one requires the consultation from an experienced and proven team, you will find this with Marcella and LBG Financial Services. Monthly, Marcella will share her great advice for you to consider.
27 and Retired
Imagine being retired before you’re 30 years old. Now, if you’re older than 30, imagine being retired on time--at whatever age you desire. It’s possible. And the more you plan towards it, the more realistic it becomes.
If the idea of retiring before the age of 30 seems a bit out of reach, think again! I recently read an article on Yahoo’s Finance website about a man who retired at the age of 27. Yes, you read that correctly—27 years old and retired. His retirement wasn’t due to overnight financial success. Instead, he created a well-planned strategy and executed it precisely. Thus, he retired at an age when most of us are still swimming in debt.
As a wealth strategist and coach, I teach my clients about why it’s imperative to define long-term goals and create a strategy that’s manageable and realistic.
Here are four tips I suggest to start bringing your retirement age closer:
1. Make an executive decision: Oftentimes, when people think of retirement, they think of being in their late fifties or early sixties. And while that’s most often the case, an earlier retirement age is possible and depends on the amount of money you want to have saved. To make an executive decision on your retirement, decide on your desired "after tax" financial goal and ideal age to begin retirement.
2. Write out the X’s and O’s: Create a deliberate, realistic and actionable plan to make your retirement goals come true. Be meticulous in your planning by sitting down with a financial planner and creating a strategy built around your dreams of property ownership, investments, savings accounts and debt management.
3. Build your "bench strength": Whether you’re a business owner or you have a team who relies on you, make sure you have people who are suited to fill in for you when it’s time for you to retire. Training employees to take higher leadership roles will make your exit strategy easier and also increase the quality of your retirement.
4. What does retirement look like? This is the final point in this blog, but in actuality, it’s the first step towards retirement. You can set your financial goal, and do everything you need to do to carry out the plan, but if you don’t have a clear understanding of what your retirement years will look like, it could stop you in your tracks. So be imaginative or visionary about your retirement: think of places to travel, things to do with your money, personal goals and more.
Retirement isn’t the end of life. It’s the beginning of enjoying what you’ve spent a portion of your life working towards. When you plan out the details and make smart steps towards reaching your goals, you can look at retirement as a phase of life where you have the financial means to really enjoy yourself. ~Copa
For more information about Marcella: www.greatlbgevents.com
Marcella Mollon-Williams is a licensed insurance professional, financial educator and part owner of LBG Financial Services. As a Wealth Strategist, Marcella spends her time building her clients’ financial acumen by developing smart and meaningful plans to create wealth and build legacies.
Imagine being retired before you’re 30 years old. Now, if you’re older than 30, imagine being retired on time--at whatever age you desire. It’s possible. And the more you plan towards it, the more realistic it becomes.
If the idea of retiring before the age of 30 seems a bit out of reach, think again! I recently read an article on Yahoo’s Finance website about a man who retired at the age of 27. Yes, you read that correctly—27 years old and retired. His retirement wasn’t due to overnight financial success. Instead, he created a well-planned strategy and executed it precisely. Thus, he retired at an age when most of us are still swimming in debt.
As a wealth strategist and coach, I teach my clients about why it’s imperative to define long-term goals and create a strategy that’s manageable and realistic.
Here are four tips I suggest to start bringing your retirement age closer:
1. Make an executive decision: Oftentimes, when people think of retirement, they think of being in their late fifties or early sixties. And while that’s most often the case, an earlier retirement age is possible and depends on the amount of money you want to have saved. To make an executive decision on your retirement, decide on your desired "after tax" financial goal and ideal age to begin retirement.
2. Write out the X’s and O’s: Create a deliberate, realistic and actionable plan to make your retirement goals come true. Be meticulous in your planning by sitting down with a financial planner and creating a strategy built around your dreams of property ownership, investments, savings accounts and debt management.
3. Build your "bench strength": Whether you’re a business owner or you have a team who relies on you, make sure you have people who are suited to fill in for you when it’s time for you to retire. Training employees to take higher leadership roles will make your exit strategy easier and also increase the quality of your retirement.
4. What does retirement look like? This is the final point in this blog, but in actuality, it’s the first step towards retirement. You can set your financial goal, and do everything you need to do to carry out the plan, but if you don’t have a clear understanding of what your retirement years will look like, it could stop you in your tracks. So be imaginative or visionary about your retirement: think of places to travel, things to do with your money, personal goals and more.
Retirement isn’t the end of life. It’s the beginning of enjoying what you’ve spent a portion of your life working towards. When you plan out the details and make smart steps towards reaching your goals, you can look at retirement as a phase of life where you have the financial means to really enjoy yourself. ~Copa
For more information about Marcella: www.greatlbgevents.com
Marcella Mollon-Williams is a licensed insurance professional, financial educator and part owner of LBG Financial Services. As a Wealth Strategist, Marcella spends her time building her clients’ financial acumen by developing smart and meaningful plans to create wealth and build legacies.
