Retirement Challenges You Must Conquer

How easy is it to relax and enjoy yourself when you’re in a state of fear and unrest about anything in your life?   

Not very easy at all!

There’s a direct link between your level of confidence on a day-to-day basis and the quality of your life.

Specific to money, which is the means with which we all support our desired lifestyle, developing and maintaining supreme financial confidence is more necessary and critical today than ever before. 

Without it, you will continue to pull your punches, and miss out on living the life you’ve earned and enjoying the experiences you deserve due to fear. 

Today’s Financial Confidence Deficit    

Have you ever stopped to think about why there is such a low level of financial confidence today?

Well, unfortunately, there’s no long history, and very few good examples of individuals who have reached and maintained total financial independence over a long life. 

You have to remember that, for anyone other than the super wealthy like the Carnegies and the Rockefellers of the world, the whole concept of retirement, or being able to financially support yourself without having to work, has been around for less than 100 years. 

Stop and think about that for a moment.  Historically speaking, that’s not a very long time. 

Retirement Didn’t Exist

Before that, “retirement” didn’t exist.  People worked until they passed away.  Or, they lived with, and were supported by, their family.

What initially changed all of that was social security and fixed monthly pensions provided by lifetime employers. 

It was a lot easier back then because you could add up the amount you’d receive each month from social security and your pension, and if it was more than you needed to live on, you could make the determination if you’d be okay or not and feel confident about it.

However, all of that has now changed.  Fixed pensions have become a thing of the past for most Americans. 

Instead, employer sponsored savings plans, such as 401(k)s and 403(b)s have taken center stage as employers have removed themselves from the financial management business.

No More Guarantees

When you transition to retirement, you’re no longer “guaranteed” a monthly pension. 

Instead, you’re presented with a lump sum of money and it’s your job to determine:

a) First, is it enough to provide the cash flow we need right now, and down the road when inflation kicks in and our lifestyle costs more?

b) Second, how do we avoid all of the potential mistakes, and take advantage of the opportunities necessary for us to earn what we need in order to make our Retirement Bucket™ of investments remain intact for as long as we do?

In a nutshell, at the stage in your life where there’s no room for big mistakes, the responsibility for your financial independence and security has been transferred from your employer to you.


Massive Responsibility

Generating consistent, inflation adjusted cash flow…navigating ever-changing tax laws…managing investments and dealing with volatile financial markets…protecting your income and assets for your family….planning your estate.

It’s now all on you.

And, on top of it all, you are pounded on a moment-by-moment basis through various media outlets tugging at your attention with conflicting and confusing information.

There’s no mystery why there is such a lack of financial confidence out there, especially when you’re looking to make your transition to your retirement years!

In essence, this is why we created The Relaxing Retirement Coaching Program™.

The Relaxing Retirement Formula

The focus of many of the individuals and couples we meet with for the first time is often in many different directions. My recommendation is always to begin with the fundamentals and have them take a giant step back and clearly identify the lifestyle they want, and then the challenges and obstacles they face in getting there.

Let me give you a very simple, but critically important, example:

Challenge #1:       “Although we haven’t decided if we want to stop working or not, we don’t want to depend on a paycheck from work anymore, so we need to generate income some other way.”

Challenge #2:       “Our lifestyle costs a lot more than our pensions and social security incomes bring in. (i.e. we need $140,000 per year to live after paying income taxes, and our pensions and social security only bring in $60,000)”

Challenge #3:       “We need to generate cash flow from our Retirement Bucket™ of investments to support our lifestyle.”

Challenge #4:       “We don’t have enough built up to let it all sit in CDs at the bank and earn only 1 to 2% interest.”

Challenge #5:      “We need to earn better investment returns to keep pace with  inflation so we don’t run out of money.

Challenge #6:      “In order to achieve the better investment returns we need, we have to position our Retirement Bucket™ of investments where it has an opportunity to earn better returns.”

Challenge #7:      “Positioning our retirement savings where it has an opportunity to earn better returns subjects us to greater amounts of investment volatility.”

Challenge #8:      “If our Retirement Bucket™ runs out too soon, we have to either make cutbacks in our lifestyle, or we have to go back to work!”

This may all seem obvious, but most couples we meet with for the first time have no idea why they’re even investing in the first place, nor why they’re allocated the way they are.

In most cases, the reason they’re allocated the way they are is because Fund X seemed like a good fund, or recently performed well!

This is extremely dangerous in its simplicity!

If you don’t begin by first identifying all the potential obstacles in your way to enjoying a Relaxing Retirement, you will join the overwhelming majority of Americans who tend to wander and focus on things that are potentially important, but completely out of context and inappropriate for their unique situation and circumstances.

Begin with the fundamentals of The Relaxing Retirement Formula™.