Opinions are great. Nearly everyone has one. Who is right and who is wrong? Good questions, right? What I've discovered is that if what I'm doing over and over again is not working, it makes no sense to keep on repeating the same insanity. However, if you're okay with the path you're on, by all means keep on, keeping on.
The traditional wisdom that most everyone is following these days has its origins back in our parents and grand parents day, with only a few modifications over the years. Most everyone these days are just barely surviving on the 40/40/40 plan. You know what I'm talking about -- Work 40 hours a week for about 40 years only to retire on about 40% of what they are just barely surviving on now.
I am intimately familiar with the 40/40/40 -- I've been there, done that for more years than I care to admit.
Here is some basic truth in the reality of people on the 40/40/40:
- More people file for bankruptcy than divorce
- 90% those filing for bankruptcy could have avoided their situation with an extra $300 per month
- 59% of baby-boomers are behind on Retirement Savings
- Young Americans have over One Trillion dollars combined student debt
- 42% of Americans are living paycheck to paycheck
- 34% of Americans have no money saved for retirement
- 54% of Americans have not calculated their retirement number
- 85% Americans are behind on retirement savings
- By age 65, 70% will be diagnosed with heart attack or stroke or cancer.
- 60% of the above will survive their diagnosis. 45% of these survivors will file for bankruptcy
A friend of mine, who I actually respect, a professional financial planner recently posted the following on his facebook page: "Anyone who’s reached their 50s or 60s truly needs to switch their mindset from accumulation to the preservation and income planning/ distribution phase. The longevity of their comfortable retirement relies on it." As a person in my 50's I'm pleased to say that I've found a better plan.
Following the above quote there were many respondents that agreed with my friend. Many of them quoting the traditional wisdom of "down sizing, and cutting back on lifestyle expenses, evidently they were admitting to the failure of the 40/40/40. Though I agree with the wisdom of living within or below our means, if your financial plans are sound, you should never have to survive your retirement years with less than you're surviving on NOW!
I admit, I was a late bloomer when it comes to developing financial security. I actually would never have made it by listening to proponents of traditional financial wisdom. These days I am not just surviving, my wife and I are thriving. I have found my path to the future and am actually paying it forward, helping anyone who wishes to tag along realize their own dream of financial independence.
My financial health is not based on theory, opinion or conjecture. I've had enough opinion. I am also no longer relying solely on my own efforts. One simply profound truth I've discovered is that there is no way that I could perform 10x my own effort. I've had several businesses as a sole proprietor and can attest to the validity of that premise. Even though I ascribe to many principles of network marketing, traditional multi-level marketing doesn't work either.
What I have found is a sustainable and recession proof vehicle to financial freedom! I've discovered a business model that virtually anyone can do at any stage of life, a plan that rewards individual effort buy building a network of like-minded professionals. This is accomplished without selling potions, lotions, pills or other such over-priced and unsustainable products. Unlike most "network marketing" businesses the vast majority of members are nothing more than "SHOPPERS" who join for free, have no minimum orders or auto-ship requirements. This is a proven, international program which started in Austria 13 years ago with 6 members and 3 merchants. We now have over 5,000,000 members (97% of which are shoppers) and over a Billion dollars in annual revenue.
I started this program at 58 years old after more than a decade of "downsizing." My wife, Bonnie and I have bought a new home this year and have big plans for the future. Bonnie is exiting the rat race this year -- many years ahead of plan, without fear or trepidation.
"It's more important to grow your income than to cut your expenses. It is more important to grow your spirit than to cut your dreams." ~Robert Kiyosake
No matter what stage you are with your financial goals -- if you want to do better -- it is not too late. If you give me 40 minutes and 40 months I can show you how to expand your earning and retirement potential by 400%
Contact me when you're ready to abandon the 40/40/40. I'd love the opportunity pass along what I've discovered.