Why is planning for retirement important at every age? Because you cannot move forward until you know where you are going. When you get in a car and have never been to the destination, what do you do?
You enter the address into Google Maps and ensure you have a path before you get started. Even if you go for a joy ride, you always ensure you know how to navigate home.
When you go to the airport to fly to another city, you ensure you have tickets, ID, passports, and cellphones. You don’t want to be stranded.
So why would we want to travel through life without a map or itinerary? It is our guiding light through the darkness (work). We need to have an exit strategy, or the days seem longer, the boss angrier, and weekends shorter.
They do not train us to create our retirements. It is not in their best interest for us to have a game plan. When we know the objective, we can execute violently (sorry, the Marine in me).
If I know at age 20 that my goal is $3 Million in a dividend portfolio, then my goal becomes to get this money into my accounts as soon as possible. However, when I don’t have a plan, I can get detoured.
Some detours include cars, video games, watches, houses, chasing women or men, etc. Now, by the time I look at my map, I am 50 years old. I need my job because I have no cash flow. My boss can come in and cut my salary by 25% for no reason. And guess what? I am stuck.
People, that is what they want. “They” are everyone outside of your immediate family. Hell, sometimes it is your immediate family that doesn’t want you to succeed. You must have a plan. There is no other option. No one is coming to save you.
“No one is coming to save you” is one of my favorite sayings of all time. An author by the name of Ramit Sethi said it in a podcast I was watching. The context was talking about getting your finances in order. I loved that saying so much that I went out and bought his book “I Will Teach You to Be Rich.”
That book was my first book on my path to financial independence. It was life-changing. But that saying, “No one is coming to save you,” still sticks with me.
I just turned 40, and as I look around, everyone is waiting for someone to tell them that it is going to be okay. But it is not going to be okay. The 40s isn’t the time to spend tons of money on cars, vacations, and luxury items.
Once you have enough assets to have excess cash flow, you will have no choice but to enjoy some of your cash. Now is not the time. Wealth is having excess income vs. expenses. Doing some quick math: you can control your income, and you can control your expenses; therefore, you can control your wealth. And yes, it is that simple.
But Josh, my job will not give me a promotion until I am ABC+++ certified and have ten Master’s degrees in grass-licking.
Screw them. You don’t need a job or boss to make money. Your mind controls your money—no one else. Learn, learn, and when you are absolutely tired of learning, learn some more. Your bank account is a reflection of your financial intelligence. No more, more less.
Don’t believe me? I read a book called “Rich Dad, Poor Dad” that told me that I could create assets from my mind. I contemplated this and thought, hey, maybe I can write books. Six months later, I am selling books, and people are reading. Not a lot, mind you, but this is a long-term play.
What are you doing in your free time—watching Netflix, playing video games, drinking beer, crafting wood, etc.? I challenge you to look at your long-term outlook and see if drinking beer is your end state. If so, keep doing it; if not, make a change. And I love to drink beer, but I have other priorities 95% of the time.
Read through the Planning for Retirement Series and have a heart-to-heart with yourself. You are the best at being you. Only you can determine what your future holds. If you can get your loved ones on the same retirement outlook as you, it will be magical.
Let your future decide if that new car, vacation, or purse is necessary. Retirement Planning is the Google map of your life. Don’t leave home without a retirement plan.
Read My Books for Free: Free Kindle Books Schedule also on Kindle Unlimited Join me on the best app for Crypto- Voyager
Follow us on our Facebook Page (here)
Join our Facebook group (here)
20 Books that Will Make You Rich (here) part 2 (here)
Follow our goal to Retire on CryptoCurrencies (here)
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.
Leave a Reply