The soundest retirement planning should have a healthy dose of self-reliance.
The recent fiasco in Washington concerning raising the debt limit was disgusting and made most of us angry with both political parties.
It should also scare you... especially if you are a baby boomer nearing retirement.
You should never expect or allow a finanacial planner to replace the person most affected by retirement planning decisions...
Guess who that retirement planner should be?
Relying on Washington or Wall Street for those planning for retirement is a foolish exercise...
No one cares more about you and your retirement than you do...
If this recent episode in political gamesmanship has not convinced you of this fact I don't know what it will take.
Wall Street is primarily interested in Wall Street... With billions to spend on investment products... The large financial corporations will stop at nothing to get you to think that only their product can help you reach your retirement goals.
Rather than worrying about what the stock market is going to do next... The recent evening news should be spurring you to action.
The importance of having a source of income that is solely reliant upon you and your efforts and no one else or no government agency is now clear... No one cares about your family more than you do.
I am not saying that your Social Security check or what you are planning on receiving from Social Security is in immediate danger... Political cowardice almost assures that nothing will be done that will have immediate impact on that portion of your retirement income... It just won't happen.
This new source of income to allow you to enjoy retirement on your terms... Does not have to be based solely upon the money it would generate.
If you are retiring or plan to retire from a profession the last thing you need is to continue to do that in retirement... Unless you are really wild about what you're currently doing ... Most people look to retirement as a change what they have been doing for a living... If that's not you...good for you.
For most of us we will be happier doing something related to a hobby or interest that we pursue in our recreational time.
While planning for retirement now...stop and think about what you really like to do when not working. For instance;...
If this is what you really like to do why not devise a way to develop a source of income that is totally reliant on you and is what you enjoy spending time doing anyway...
Would you believe that there is a way to earn money on any of the above subjects...and for you to earn anywhere you desire to live... And anytime you desire to work... this makes planning for retirement now a whole lot easier.
This will give you an idea of what I did to develop an income stream that depends on no one but me... And not dependent on the political bozos in Washington...
Can you spare 2 minutes?