In the Past things worked like this:
- You school for 15 years.
- You work for 40 years while contributing to a Pension Fund.
- You Retire for 15-20 years and die with nothing.
Nowadays things have changed slightly:
- You now often live into our 90’s, and are much healthier.
- Your Employer has shifted the risk of your Pension away from him to you.
- You change jobs much more often and pull out and use up your pension savings every time.
Even if you do manage to religiously save for Retirement as in the past, and invest such savings properly, you are still going to run way short because of the time that you are going to spend in Retirement.
So what is the answer?
Since you are reading this right now, I know that you are not part of the 95% that will eventually come up short, financially, and have to rely on the government, charity and your children to provide for your basic needs.
Yes. You cannot rely on Savings anymore. There is just not enough pay checks over your 40 year working career to provide for your extended retirement.
One option is to carry on working after 65. We are very happy with that, as long as it is part of your FF Map, and not just to survive. But while we at it, why not work on becoming Wealthy much earlier in life?
So how do you become Wealthy?
I’m still a strong believer in the First part: Education. But as important as any Specialist Training, is Financial Education. And unfortunately it is still not available in the Normal Education Structures.
After education you get a job. Still OK. But while you are employed, you need to start Leveraging.
You first start by completing your Financial Freedom Map, so you have a Current Picture.
You then start looking for opportunities to add something to your Sun and Stars. Here you will look at the second leg of the New Rich Triangle, ‘What do I have?’, in order to find opportunities to leverage you spare time and savings cash using OPM, OPT and OPS. The object being to create Multiple Recurring Growing Passive Income Streams (MR GP IS) for the future.
And that, my dear, is the theory. Do jump on the buss, fill in your name and email on the right, and I will start sending you, twice a week, a short piece of wisdom to guide you on your journey to Freedom.
Please leave your comment below.
FREE Report: 5 Income Streams for Breadwinners ...
Get the FREE Report now ...