DIY Retirement Planning
What am I going to do about Retirement?
There seems to be one question on the minds of all generations. I hear you. I’m a Baby Boomer and I’ve had the same question.
I did all the things I was supposed to do. I got a great education, climbed the corporate ladder, and advised dozens of Fortune 500 companies on how best to use their resources. I’ve made a 6 figure salary, put money into my 401k, at times led an entrepreneurial life, and bought a house in a hot housing market. I’ve made good friends, traveled and enjoyed my life.
But then it all came crashing down.
I hit my corporate career peak and needed to move on. But I still had this “lifestyle” that required cash, and a lot of it. How was I going to change today and still prepare for my next few decades?
I read investment books. I went to retirement seminars. I heard all the conventional wisdom to balance my portfolio and adjust my risk. I heard that I needed $1 million to retire at age 65. But I looked around at all the other Baby Boomers who were also asking the question that no one would answer.
Out of necessity, and a little desperation, I devised a simple, 6-step approach to retirement planning.
- Adjust your Mindset – When you feel retirement coming, you’re ready to do something about it. “Cash is King” is your new guiding force.
- Know your Top Costs – You don’t need to be an accountant to understand how much you spend on housing, transportation, health insurance and your other big expenses that drive how much you will need for retirement.
- Understand your Cash Inflows –How much cash do you get from working, investments, and other sources? How much do you really need for today and tomorrow?
- Answer the BIG Question: How Much?? – Use a simple formula to calculate how much you will need for the next 10, 20, 30 years or more.
- Simplify Your Life –Think lean! What costs can you radically reduce to save more or prepare for retirement. A simpler life means fewer costs, better health – and being prepared for retirement.
- Earn More – Don’t wait for the winds of corporate change to downsize you before you’re ready. Now is the time to earn an extra income, start a business, or maximize the business you already have.
The DIY Retirement Plan helps you to:
- Sleep at Night – Quit worrying if you have enough to retire. Understanding how much you need and taking steps to make it happen
- Avoid Surprises – Too often I hear tragic stories about people who didn’t have the resources or were overwhelmed by retirement issues. Take action now to control your future!
- Tip the Scales – It’s time to make more than you spend. Simplifying your life, reducing your costs, and increasing your income are crucial ways to create a foundation for your future.
- Save Money – Financial professionals know their stuff, but can also be pricey. If you don’t have $300 to $2,000 to create a financial plan, but you want to take control of your future, now is the time to create a DIY Retirement Plan.
- Keep it Simple – You don’t have to be an accountant to understand your costs. DIY uses simple math, allows for estimations, and focuses more on helping you to take action, not just stress over numbers.
There are 3 easy ways to create your DIY Retirement Plan:
- Attend a workshop – Judy Ann Michael hosts DIY Retirement Planning workshops to help people prepare for retirement. Look at the Events page to find a workshop.
- Use the workbook – The DIY Retirement Planning Workbook will soon be available for sale for you to use in the comfort of your own home.
- Participate in the 6-week Private Coaching Program – Judy will work with you personally to understand your costs, recommend action steps to reduce your costs and maximize your income.
Look for the upcoming book by Judy Ann Michael
How Much??? The Surprisingly Simple System that shows you why you need more $$$ than you think
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