It’s your retirement, so you’ll have to make it great yourself. No one is going to prepare for your retirement better than you. This dynamic is a good and bad thing.
On the one hand, you’re in complete control. You can either accept your fate and take it seriously or depend on your employer or the government to plan for you.
I do all the planning and research by myself, taking notes along the way. When I get enough notes together concerning retirement planning, I put them together in a massive book.
I call this book Your Retirement Planning Guide, which is the series’s third iteration. You can find the first and second in the series here. There is no need to waste time, so let’s jump into the guide.
THE ROAD TO RETIREMENT
Knowing the difference between a budget and a fixed income is necessary for planning. A budget keeps you building wealth, while a fixed income keeps you broke.
Most of us wait for our paychecks to arrive via direct deposit into our bank accounts. I also love to receive my passive income via email. Waking up and checking my Gmail to find fresh cash flow is terrific.
A recession is looking in the distance, and we must prepare for the worst. An emergency fund is a must, but how much is a good amount?
My Happy Cash Flow Retirement series (part 6, part 7) are quick guides to building passive income and living a rich life in your later years.
Do you live paycheck to paycheck? It’s not a bad idea when you receive 100+ paychecks a month. That’s why I became an income investor.
There has never been a better time to join the military. There are intangible and tangible benefits for anyone who can qualify. With the upcoming mess in the economy, the military is an excellent place to weather the storm.
How was your Mother’s Day? How is your mom doing financially? Once you get your finances in order, you can also assist your mom in creating a Happy Cash Flow Retirement.
A great question for beginners is whether they should pay down debt entirely before starting to invest? I give my unique take on the answer in this article.
Retirement Planning for the Average Person (part 3, part 4) is not as complicated as we think. Determine how much money you need without working, and reverse engineer a passive income plan. Simple.
What’s the difference between retirement planning and estate planning? Retirement planning is for you, and estate planning is for your family.
What retirement requirements have you set to achieve before you quit your job? My two conditions are to have $1 million in a dividend portfolio and have one home without a mortgage payment.
During the pandemic, the Great Resignation swept the nation. People loved walking away from a job that didn’t satisfy their needs. I call it “The Bait Resignation” because everyone without passive income needs a job.
Can you retire by age 38? You sure can. I choose that date because it marks 20 years in the military if you join at age 18. You can even achieve this remarkable goal in the civilian sector. You’ll need to learn how to build a collection of assets.
The magic of saving is the financial security it provides for you and your family. Plus, you can save on high-yield investments, like Series “I” Bonds, that can keep your money growing.
I hate locking my money away for 40 years. I understand the intent of a 401K, but during hard times, they provide little value. I’d rather have my dividends coming into my account every month.
RETIREMENT PLUS
The idea of living on passive income may not appeal to you, and that’s okay. You can still leverage passive income to supplement your pension or 401K. That’s why I created the Retirement Plus Series.
- Retirement Plus: Use Bonds to Supplement Your Retirement
- Retirement Plus: Use Dividends to Supplement Your Retirement
- Retirement Plus: Use Rents to Supplement Your Retirement
- Retirement Plus: Use Royalties to Supplement Your Retirement
INFLATION ATE MY PAYCHECK
First the pandemic, then inflation, and finally a recession—what is happening to our economy? There are many questions, but rather, I like to focus on the solutions. No matter what happens, we need to become smarter with our money; that’s why I created the Inflation Ate My Paycheck 101 series.
- Inflation Ate My Paycheck 101: Adjust Your Lifestyle Today
- Inflation Ate My Paycheck 102: 10 Creative Ways to Beat Inflation
- Inflation Ate My Paycheck 103: Creator, Investor, Tycoon, Entrepreneur
- Inflation Ate My Paycheck 104: Create Infinite Dividends
- Inflation Ate My Paycheck 105: From Broke to Saver to Investor
- Inflation Ate My Paycheck 106: Time to Start Couponing… Or Not
DEBT-FREE SOCIETY
Do you want to join an elite society that few people can ever enter? How about joining the Debt-Free Society. I created a series to help you enter its beautiful halls.
- Debt-Free Society: Beat Automobile Debt
- Debt-Free Society: Beat Credit Card Debt
- Debt-Free Society: Beat Student Loan Debt
- Debt-Free Society: Beat Wedding Debt
STAYING DEBT-FREE AT ANY AGE
The best way to stay debt-free is to avoid accumulating debt in the first place. But every age has its financial challenges that we must navigate around. That’s why I created the Stay Debt-Free At Any Age series.
- Staying Debt-Free in Your 20s
- Staying Debt-Free in Your 30s
- Staying Debt-Free in Your 40s
- Staying Debt-Free in Your 50s
- Staying Debt-Free in Your 60s
- Staying Debt-Free in Your 70s
BOOK TAKEAWAYS
“All Your Worth” is one of my favorite financial books of all time because it gives us solid advice on determining what is bleeding your wallet dry.
With inflation raging at over 8%, it is time to take drastic measures. How about couponing to help save some cash every week?
Can you graduate college without any student loan debt? The book “Debt-Free Degree” seems to think you can.
Did you graduate college with student loans? If you are having trouble getting ahead of these loans, read “Destroy Your Student Loan Debt.”
Finding the job of your dreams doesn’t happen by chance; you’ll need to strive to acquire this position. “From Paycheck to Purpose” walks us through this multi-year process.
Having a two-income household leads to financial success, right? Nope. In most cases, this leads to financial ruin. The book “The Two-Income Trap” tells us how.
Are you planning a wedding? Don’t let one day cost you years of saving and investing. “Wedding Hacks” gives over 500+ tips to reduce costs and decrease stress, a win-win.
CONCLUSION
Thanks for joining me for another round of Your Retirement Planning Guide. Don’t forget to read “Retirement Planning At Any Age” and “Your Retirement Planning Guide 2 (free pdf)” for more retirement planning goodness. Good Luck!
- PDF of the Month: Don’t Gamble with Retirement 7 (Free 424-Page PDF)
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- Financial Mindset: Become CEO of Yourself 2 (Free 196-Page PDF)
- Retirement Planning: Your Retirement Planning Guide 2 (Free 255-Page PDF)
- Investing: How We Plan to Retire on Dividends 2 (165-Page Free PDF)
- Cryptocurrencies: Counting on Crypto 2 (Free 159-Page PDF)
- Real Estate: Financial Independence through Real Estate 2 (Free 123-Page PDF)
- Business: Retire Rich, Retire Comfortable with a Business 2 (Free 185-Page PDF)
- Latest DGWR: Don’t Gamble with Retirement 6 (Free 409-Page PDF)
- Everything!: The Biggest Book on Passive Income Ever 2! (book)(Web Edition)(Art Edition)
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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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