Retirement investing and saving isn’t just a matter of socking money away when you’re working and then stopping and resting on your laurels-or rather, your savings and your investments-when you retire.
Instead, retirement investing can be a life-long process with continuous payoffs if we find and follow the right system!
You may have been told that you need to have a million dollars in the bank, right now, or your retirement years are going to be dismal times spent waiting breathlessly for that next Social Security check.
Now I’m not going to kid you-it would be great if we all had that million or more dollars in the bank by the time we hit 50! But a lot of us don’t get there because we’ve been too busy juggling our jobs, our children, and caring for our parents to have much time to think about our own retirement needs.
But as we get closer to the time to retire into our second lives, it’s time for us to start thinking about our needs first for a change. And part of that is starting to plan and execute some retirement investing just for us and our spouses.
Now, one bonus we have that our mothers and grandmothers didn’t necessarily enjoy is that we know we can handle our retirement investing ourselves. Those of us who are old enough to remember the days when women were told we couldn’t handle business or finances can laugh at those days now.
So let’s get to it, shall we? When it comes to investing for your retirement, here is a general outline of the things I recommend.
First, it’s important that you take control of your own investments and your own wealth. The financial services industry is a joke-these are the people who almost caused another Great Depression! And they certainly don’t care about the quality of our post-retirement lives. The best rule of thumb here is to never take advice from someone who has something to gain from your doing so.
Next, I think it’s a good idea to hire yourself one particular kind of financial professional-a tax consultant. Once you get into the realms of investment income, you don’t want to deal with the taxes yourself.
Do you doubt me? Did you know that IRS employees give out incorrect advice to taxpayers all the time? It’s true-go look it up! And then make sure you’ve got a tax consultant who can help you keep as much of your retirement investment income as possible.
The next step for you to follow is to start learning about the kinds of investments out there and the benefits and drawbacks of each one. I work with a specific system that has educated me on how to invest wisely to minimize my risks while maximizing my income.
In short, because of the success I’ve had with this system, I recommend stocks (with many qualifications), precious metals, and a few other types of investments as the best kinds of retirement investments out there. But whatever you do as you learn more about investing, don’t put more than roughly 10% of your retirement nest egg into any one investment or any one kind of investment! Even the most proven systems involve some risk-and none of us likes the idea of losing 10% of our wealth, let alone more!
There is a wealth of solid information about retirement investing, and I’m happy to tell you about the strategies that are working so well for me. In the meantime, though, remember that your retirement investing isn’t a short term commitment-you’ll be doing this, and enjoying it, for the rest of your life!