How to NOT Retire Broke

It’s true. Most people never retire early or rich. Why? Because they lived their pre-retirement years as if they were rich already.

It’s an easy trap to fall into when all the ads, TV shows and movies show average folks enjoying expensive toys.

So we end up using credit cards, lines of credit and mortgages to spend over 100% of our income on fancy cars, exotic vacations, the latest smartphone and the biggest TV.

As a result, we get deep in debt, pay huge interest costs, collect a bunch of stuff that has no resale value, and retire with no savings.

But there is a better way! Instead of living beyond our means, we can use our money and time strategically—so we save enough to retire earlier and more financially secure.

All it takes is a little common sense. Here are a few tips…

Tip #1: Save when you’re young, not when you’re old. [Click] If you save $100,000 when you’re 30, it’ll be worth a lot more at retirement than if you saved $100,000 when you were 50. Start young and let the magic of compounding do the work for you.

Tip #2: Find happiness in yourself and those around you, instead of in possessions.

When you really think about it, how much do designer clothes, the latest tablet, expensive restaurants and lavish apartments really add to your life?

Instead, buy the basics, stay out of debt and invest your time in the people and activities you love.

Tip #3: Don’t just spend, invest. [Click] Instead of buying a monster house in the suburbs, buy a modest home close to where you work.

Then use the savings (including commuting savings) to buy a revenue property that will earn you income and capital appreciation.

Tip #4: Look for secure growth, not get-rich-quick schemes. [Click] Once you’ve worked hard to save money, you’ll see it’s too valuable to put into high-risk investments.

Stick to secure blue chip investments instead, and watch your savings grow over time.

If you would like to learn more about how to live comfortably during your retirement, call us today!

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