Retirement comes for all of us; how we choose to spend it is entirely on us. We can struggle on a fixed income and pray the government solves our problems for us.
Or we can take matters into our own hands by creating the most extraordinary retirement possible. If you rely on the government or a corporation for your retirement, you are gambling.
The better option. The better option is to start streams of passive income today. You can decide how much money you want through retirement and put things into motion now.
Many people do not want to predict the bad things that can happen throughout our lives. These events include long-term care, grandchildren with disabilities, and stock market recessions.
When these catastrophic events occur, they will push our income to the limits. That is why it is essential to include these events in the planning process.
If we can live on $5,000/month, we need to make at least $12,000 in passive income cash flow. Whatever we don’t spend, we can reinvest into our portfolio.
Diversify our passive income. Finally, we need to diversify our passive income streams. We can do this by investing our time, energy, attention, and money in the following resources.
- Retirement income. This includes Roth IRAs, pensions, and annuities.
- Dividends & Interest. This includes bonds and dividend-paying stocks.
- Cryptocurrencies. This includes stablecoins, smart chains, and the Metaverse.
- Real Estate. This includes rental properties and house hacking.
- Business. This includes royalties and automated businesses.
The best series. The Don’t Gamble with Retirement Series (part 1, part 2, part 3, part 4, part 5, part 6) has been a mainstay of my brand “Military Family Investing.”
I released the first edition of the series as my third overall book. This book is number 426 in my collection. Yes, time flies. The days until your retirement are also moving at a similar pace.
Are you ready? Are you prepared for a happy cash flow retirement? Do you know what to do if interest rates increase or decrease?
What if we go into hyperinflation or stagflation—do you know how to position your assets? What if the housing market collapses—have you diversified your portfolio away from only owning a home?
These are excellent questions every retiree should be asking themselves today? As we plan for a better retirement, we also build a better estate for our children and grandchildren.
Conclusion. The time is now; nobody is coming to save you. The only person that can produce a better life for you is you. The only way to grow is by reading and taking decisive action.
Take this massive book and learn the ways of passive income and retirement planning. Build the best retirement possible and create a legacy for your children and grandchildren. It all rests on you.
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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