Have Questions? = Safe Arrangements

What do you see yourself doing when you think about retirement? where do you see yourself?
All we talk about is saving and saving a lot of money for tomorrow. While we often fail to ask the obvious question, what are you saving for? Are you going to travel? eat out every night or being generous to kids and grandkids?

Are you considering of putting a down payment on a house or a car for the kids or grandkids? Or help getting that priceless weeding? All those questions matters, you need to answer them while saving for stabilize future.

A lot of people now days are moving to different countries, for many reasons: to pronlong their financial longevity and to escape cold weather. As it’s cheaper to live abroad not to mention the beaches and it’s always 75°. Keep in mind beyond retirement there is other decision you and your kids are going to make. Are you going to live at home or moving to an institution?

You will need big saving for mostly everything because social security alone won’t cover it, if there is still such thing.
That’s why you need multiple legs of income when you reach that millstone.

• Social Security (if it still around): will do well if your mortgage is paid off. Because for most people 35 % of their income goes towards rent or mortgage.

• Investments: safe investments with great dividend stocks that will bring quarterly income and stocks will also grow in value.

• 401(k): basically free money from work they match up to a certain percentage. Take advantage of it because it will come handy.

• Rough IRA. Imagine money coming in from all over the place even if they are not a lot but when you add all of them together they sure do accumulate.

So don’t be affraid, most importantly try not to avoid this conversation because the earlier you start the better off you are. Ask yourself all the right questions. And remember this is not a straight road you might have to make changes as you go. Make sure you have all your supplies before you get in that sail boat.

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