How bad can it get?
The stats are pretty horrific. 88% of people do not invest, and on average 1 in 500 succeed financially. So when it comes to achieving financial independence why try? Why bother?
Never trying will guarantee failure, but any attempt to secure your future is better than nothing and even small victories count.
But the phrase of ‘cash flow is king’ is always true. I make it no secret that I am not a financial advisor—I’m an educator! But you don’t have to go too far to understand that cash flow is truly king.
Is this what I’m writing about today?
Sure is! Somewhere we all have a guilty, selfish, perverse
dream to take a holiday somewhere exotic. So how long does it take to save for
a holiday? Before I move forward, this dream is not selfish, perverse or
something you should feel guilty about. As you’ll see you’re going to deserve
it more than you know.
Instead it is something that should be chased especially as a personal reward for years of services rendered at your job.
The gross value
Previously I asked the question of how much it takes to
retire early. This same question also is how much it takes to become
There were a range of answers all the way from a retirement
pension that only provides $24,268.40 per year, through to a real case where
the money target was $384,000 per year.
Using average figures along with a multiplier of 2.5 I
rounded up to come up with a number of $150,000 per year net.
So what does $150,000 look like?
What is retirement?
When most people think of retirement the first thing people tend to think about is the freedom that comes with not having to go to work each and every day. Taking this further the vast majority of people ‘want’ to retire early, but very few dare to explore the options available to make the dream a reality, until time is heavily against them.
But retirement usually has a few common factors namely, having enough money available to support their quality of life without needing to work for more.
School and Life Decisions
Do you know that you’ve been setup for financial failure? It’s
a confronting question that not many people would want to say ‘yes’ to. However
since your earliest years this is exactly what you’ve been prepared for, and
you don’t even know it. Here are the reasons why.
The first place that sets you up for financial failure is the school system. As confronting as this may be, the school system simply prepares you for more schooling and only at the very end does it prepare you for entry into the workforce as an employee and this is only at the technical level.