Who doesn’t love brunch! How do you like your eggs? Shuffled? On the waffle? Too easy? The egg-breaking product? Or are you a complete vegan dinner of a delicious alternative? Coffee, tea, champagne or Bloody Mary with that?
Regardless of the style of your brunch, you also order your nest while reading this. The decisions you make this morning and throughout the day affect how your nesting eggs will be served for the last third of your life.
What will you do with your corporate retirement plan when you retire? Or what will you do with your 401K when you change jobs? In an effort to be safe, most workers invest with too little risk, ensuring that they will run out of money by noon in the golden years. Unless you have spent huge sums on your salary, research is unlikely to save you for the last third of your life.
If you want to be served perfectly flavored portions of a nest egg, you need to plan carefully. Think about your tax situation, your lifestyle (your spending limits), and the length of time you need your assets to last – perhaps longer than you think. (People with too much income receive a tax on their social security.) (This income has already been taxed once!)
You can easily realize the consequences of depleting your assets too early. Without a PLAN you will never be able to place your order!
Not planning is crazy. It’s like going out for a spontaneous brunch with great friends, hearing them order from a generous menu served by attentive waiting staff, waiting for the chef to do his magic in the kitchen, and then anxiously watching them eat the wonderful results. You order a miserable plate because of what you think. (My assets are not what they used to be, I’m like most retirees, I can’t write a big check, or I’ve exceeded my budget this month, or the market has fallen, or I’m already eating into my resources.)
Would you sit still for this photo? It doesn’t have to be this way!
You may have accumulated assets through 401,000, proceeds from the sale of your business or a company pension, for example. You can plan to use them wisely, making sure you have a stable source of income, the most profitable from a tax point of view, and that your money will last — no matter how long you live.
If you’re a woman, you can probably count on earning less in your lifetime, which makes planning even more important. You are more likely to become a widow or divorced … and may be caring for children or aging parents at the same time, or both. How can you make a wonderful omelette from a sparse cupboard?
If you have participated in a company savings or retirement plan, statistics also show that many of them:
Especially ladies and gentlemen who care, here’s how to place your order now! The kitchen is open and the chefs are waiting.
1.) Get at least two recommendations for a financial advisor. SCHEDULE OF THESE WEEKS FOR THE MEETINGS! It will not cost you anything and may be among the most important meetings in your life. If you don’t like the person (s) you’re interviewing, keep looking. You are responsible for placing your life order! You need this special lawyer next to you.
2.) Take action! DO SOMETHING! It is your responsibility to take action once you find a counselor you can trust. Make a few action-oriented decisions.
3.) Stay on the road and let time work for you. The best strategy, the most effective recipe for you will never work if you do not take the recommended steps. You have to follow the recipe and leave enough time in the kitchen !!! You can never serve Soufflé Grand Marnier without a prescription and enough time!
4.) Look for a strategy that will both expand and stretch your nesting eggs so that you do not outlive your resources. This last point is really important because the late brunch lasts longer than ever. If you are 50 today, there is a very good chance that you will see 100.
What will you order for lunch? And how will you pay for it?