Please download the 40-page supplement pdf to this article to share with family and friends. Being average gets a bad reputation from most people because it means that someone is better than you. However, being an average person can lead to some remarkable results, especially when it comes to retirement.
You see, once an average person realizes that they are in an average position, they should receive a light bulb notification that something is not adding up. They will need to exercise their freedom of choice to decide that becoming above-average is what they want—and an above-average retirement.
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The high-flyers of society don’t ever think that they will come crashing down to Earth. Even one of the richest men on the planet, Bill Gates, is seeking a divorce. We average folk can have it all because we never had any of it to start with. We don’t have a large inheritance to wait for or a brother with a large business to give us a job.
Nope, we only have the hard work we can do ourselves to sustain ourselves—but that becomes our greatest strength. We have to divert all of this hard work towards building ourselves a healthy cash flow retirement.
Notice that I didn’t say, building ourselves a great business? Let’s end something right now—everything outside of your family is an asset you can use to fund your retirement. We do not have the luxury of becoming attached to assets such as houses, businesses, stocks, or collectibles.
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For example, I have been working my butt off creating a book universe that produces money. However, if someone came and offered me the right amount of money, I would sell it in a heartbeat. That is because I already know how to rebuild it.
This brings us to the dos and don’ts of retirement planning as an average person. We have to make decisions early in our lives that will have ramifications for years to come. We can’t just slip into retirement and have a fully funded nest egg. We are in control, and what we do with this “privilege” is on us. Let’s start with the don’ts.
Don’t (#1) spend earned income on anything outside of expenses. After expenses are paid for, all monies shall go to fund assets such as stocks, bonds, cryptos, real estate, and business. Once your investments give you a return on your money, some of this money is your discretionary income. This is how the rich spend their money.
Don’t (#2) overly rely on any particular source of retirement income, including social security, 401K, Roth IRA, pension, annuity, dividends, bonds, real estate, business, and cryptos. Use all of these to build a fantastic cash flow retirement.
Don’t (3) waste your 30s and 40s on being an American spender. I am 40 years old, and I feel as though I entered high school again. Our 40s are the time where our brains and our wallets are at their sharpest points. However, everyone wants to prove how much they can spend on kids, trips, houses, jewelry, etc. This is the time to buckle down and use the velocity of money to lift us to the next level.
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Average Person question. I have a quick question for you, one that you will want to think seriously about. Would you rather work hard in your 40s to become financially free or spend your time, money, and effort creating a wonderful life in your 40s?
Now here’s the rub about this question. In your 40s, if you are grinding towards financial freedom, you won’t have as much time to spend with your kids and spouse. You will have much fewer trips, smaller houses, and slower cars. However, you do this with the knowledge that you will have the rest of your life to dedicate to kids, spouse, and husband once you become financially free.
If you make your 40s the time of your life, you will be working until you are 65 or 75. There is no other way around it. The power of compounding is best with time. The money that you waste in your 40s and 50s will not be working for you.
Don’t be fooled by your 401K; it won’t be enough to continue your current lifestyle. Even if you reach $1 million in your 401K, that is $40,000/year in income. Chances are you spend that in three months.
Now, here is the choice that we ordinary people don’t seem to realize. Do you want to be there for your kids from ages 1-18 or from 18-Forever? When we choose to spend, spend, spend, and not learn the ways of passive income, we are deciding to work our entire lives. Then, when our children need us, we don’t have the time or knowledge to assist them.
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When we decide to sacrifice some time and effort early, we build a base of knowledge and wealth that rich people already have. We are average, but someone has to make the sacrifice to become above average.
Think about it. If your 20-year son wants to buy a house in today’s market, would you know how? Do you have the income or investment account to assist him? Or did you spend all of it taking him to Disneyland every year?
Those are the choices that I see people making each and every day. I am over here religiously studying creative financing in real estate and how to use real estate to pay for college while everyone is off to Disneyland and buying their kids’ cars.
In the end, your retirement planning as an average person is really a lifelong goal to spend more time with family and to be there to help them throughout their entire lives. When we choose to depend on social security and our 401K, we just take care of ourselves.
Sorry, I went on a tangent. But this is truly what I see nowadays. Many average people try to pretend they are above-average by spending their earned income on expensive stuff—for themselves and their children.
Then, when their kids are 18 and out of the house, those same parents are working to pay off debt and college. Their children are now in the grinder (I mean workforce) and destined to be average, just like their parents.
The parents have no inherent knowledge of cryptos, retirement planning, real estate, business, or investing—so they have nothing to offer their adult children except “work harder.”
I am now an above-average person. My parents didn’t give me anything and couldn’t spend any time with me after turning 18 because they were working. I could’ve done the same to my kids, but I decided to sacrifice my free time to learn the magic of passive income. Now, at age 40, my wife and I don’t worry about money.
We create money from thin air. When our kids encounter “friction” in life, we can offer them ideas and support about starting a business, building royalties, investing for dividends, and creating rental income. I no longer worry about our kids’ future because I took the time to solve their problems before they became problems. We became a strong family unit for eternity because Kris and I spent time learning and building ourselves up.
Wow, I love to talk about what I am seeing today, among others 40 years old. I owe you the do’s for retirement planning for the average person. Maybe I will do that next week since I am going to try something new.
I will start releasing an article with a pdf book attached every weekend. This will be an excellent way to build my audience and get the word out. Please download and share as much as you want. If you like this idea, please like this article and share it with as many people as possible. I genuinely want to start growing my audience so that this can be a substantial source of income when I retire from the Marine Corps. Enjoy and Good Investing.
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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.
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