September is moving at a steady pace, week one is done and fall is near. I wanted to share a great idea I found this weekend and I know that you will find it so useful.
This is a journey, and as we move steadily along we will often live a repetitive and boring life. It is so easy to get caught up in what is expected of us and then we get to our final years usually after our 60th birthday and find that we have limited time and we have not created anything we wanted to do. We find ourselves now too tired and too stuck in our own ways to make any changes that would be considered ambitious.
Ninety-five percent of people will get to their retirement age, file for the government social security and will then want to kill themselves, the (stipend) they give you after years of work does not keep up with the cost of living so it is on the low end a couple of hundred a month up to just under $2,000. You can call or visit the Social Security Administration and get a statement of how much you have made all of your working years and the estimate of what your check will be upon the age of retirement, I think it's 62 but I'm not sure.
The majority of people live on 110% of what they earn from their first job as a teenager or young adult right through retirement so for at least 30 years and for some it can be even longer they spend more than they make so they don't plan for inflation, marriage, children, etc.
I recently spoke with a friend who is about 8 years away from her retirement with the federal government, and is well into her forty's if not early fifty's and she told me she is not prepared. She told me she could not live the lifestyle she has become accustomed to on her retirement and her lack of savings. She has no plan.
Don't let this be you.
Listen & Learn These 5 Lessons Before it's too Late
This video is very brief but it is enlightening, watch it, take notes, and then take action.
Y.O.L.O and Now What? are tools that we have created here at D.S. Woodard Consulting to help us get on track without too much effort. These books are informative, inexpensive easy reads that give a road map to get on and stay on the path towards our success.
We will start working on giving tips on setting up our financial life in up coming post.
To your success,
D.S. Woodard
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