Management Retirement Risk
by increasing your retirement funds
How can this be done?
Find out here …
We will all retire from active work sometime in the future.
Management retirement risk is a concern and worry.
Yet, YOUR retirement years can be the BEST years of your life.
What is Retirement ?
Retirement is defined as the “withdrawal from office, business or active life”. (Macquarie Dictionary)
This is indeed an out of date definition today, an anachronism in fact. “With people living longer and healthier lives, and a populous and loud generation of baby-boomers now well into their fifties, retirement will never be the same again”. “Retirement is not about growing old, just growing …” (Nan Korn, Director Heartbeat Trends).
Retirement today is about FREEDOM to be independent, to travel, enjoy a good lifestyle, to grow. Even the freedom to donate your efforts. A fact that was not known until recently was that the over 65’s in Australia contribute $43 billion each year to the Australian economy through unpaid caring and volunteer work. (Australian Institute of Family Studies, Australia).
What constitutes Retirement ?
There are many factors that make up retirement. Being human, we consider, and worry about:
- Housing – where will I live in retirement?
- Health and facts about aging
- Psychological issues such as “the job is me”,
perceived loss of status, sense of belonging,
even a purpose in life.
- Having adequate finances.
This list is not exhaustive, yet all contribute to our well-being in retirement, and our enjoyment of retirement.
A key foundation to an enjoyable retirement will be adequate finances to do what we wish to realistically undertake in the retirement years.
A KEY Foundation to Retirement is Adequate Finances
When our financial resources are adequate, there are positive outcomes for housing, physical and psychological health. We will enjoy this time of retirement.
Having adequate retirement funds means that you can have the FREEDOM to be independent, to travel, enjoy a good lifestyle, and to have adequate health care and aged care when required.
In the majority of cases, the retirement lifestyle resulting from contributions to Superannuation and 401(k) plans will be less in retirement than what is expected.
Retirement can be for a long time
A study by the Association of Superannuation Funds of Australia (ASFA) says that to achieve a gross income of 60 per cent of pre-retirement income in retirement, then 9 per cent contributions over 40 years could be adequate. But when full-time employment amounts to less than 40 years, more contributions are needed. Also, high-income earners need to put in more than 9 per cent.
ASFA says that to reach 80 per cent of pre-retirement income, contributions need to be 12 per cent for low-income earners and 15 per cent for high-income earners over at least 40 years.
But as mentioned above, few will work continuously for 40 years.
In the future, "fractured periods of employment, as well as periods of part-time and casual work, will become the norm rather than the exception.” Such fractured employment can increase management, retirement risk and concern for the future.
Let us though start to look at all this from the perspective of risk, and in so doing start to see SOLUTIONS other than PROBLEMS.
The RISK in Retirement
Today though there are many factors that increase the risk of retirement and the management of our retirement. Such retirement schemes as Superannuation and 401(K) have risks from:
- Government taxation eating into the Retirement funds.
In Australia, there are three taxes on Superannuation.
- Inflation – or the cost to buy the same item over time. Higher inflation means that prices get higher or it takes more money to buy the same item.
- Inadequate contributions to Superannuation – have I put enough in?
- Fractured employment disrupts continuous contributions to a Retirement Plan – work can sometimes be full-time and other times part-time.
- Increased life expectancy can mean 20 years of retirement
Risk needs to be managed.
Risks can be Reduced, Removed or cancelled, Accepted, or Recognised and Managed.
Let’s relist these risks under these headings:
REDUCE the risk
HOW ? Through Health Insurance
REMOVE or Cancel the risk
HOW? Increase the contributions !
ACCEPT the risk
Increased life expectancy
MANAGE the risk
Take out Insurances for health, income
Make some contributions when in part-time work as well as full-time.
Create another more reliable source of income.
Here then, is the solution to management of retirement risk. Risk can be reduced, removed, or more easily accepted if there are increased retirement funds.
Now answers are starting to appear.
The plain truth is that MORE FUNDS will reduce ALL these risks.
I am not a financial planner, nor a financial advisor, but I can assist you to gain MORE FUNDS in your plan. I can help you INCREASE your retirement funds so that this time is in deed the BEST TIME OF YOUR LIFE and the next 20 years are the Great Years.
How can Retirement Funds be increased?
Consider this ….
Over your lifetime, you have probably amassed skills in hobbies, crafts, decision making, negotiating, sport …..
Over your lifetime, you have amassed incredible knowledge in your work or professional area. This knowledge has most likely become wisdom, that you drew upon each day that you worked.
Perhaps others asked for your advise …
Over your lifetime, you have been driven by passions for your sport, for your work, for your hobbies, for your skills …
In the past you have worked to make a LIVING
TODAY … consider making a profit to LIVE
What does THAT mean?
Simple … In the past you have sold your time and skills to an employer.
Consider, NOW using your time and skills to SELL to others, for a PROFIT.
Consider this …
Somewhere in the world right now, I can guarantee (from personal experience) there is someone looking on the Internet for something for which you have the answer.
Consider your passions. It may be growing mushrooms, or juggling. There is right now, someone in the world looking for the ideal temperature to grow mushrooms, and another looking to learn how to juggle.
Here is where you can create some extra funds, or even very significant funds that could dwarf what you have saved and invested up to now.
Whether you are retired or NOT yet retired, you can obtain these extra funds easily either Part-time or Full-time. Just small amounts of time is all that is needed.
You can set yourself up now for passive income in the years to come. The extra funds could be invested in your Superannuation Fund, or in alternate investments.
Right now someone needs YOUR knowledge and expertise
All you need is an EASY way to:
Make the connection
Between YOU, who KNOWS,
to those who WISH and NEED to KNOW. ™
How can I be connected to those who would purchase what I know?
I have spent two years researching for an idea to increase my Retirement Funds. Many ideas simply "gobbled" up my time. After many false starts, I now build simple businesses that work, on the Internet, which sell my knowledge and products.
Why did I use the Internet? Because it is right there in my home, I do not need a special office, it is inexpensive, it is very low risk (in fact possibly zero), and most important, the world is "going on-line" as you read this. Yes at any instant, there are millions online with thousands joining for the first time. This is an area of phenomenal growth.
Do you need special skills? Absolutely not. No special technical skills except to be able to turn a computer on!
This is about working ON your ideas other than IN web code. Who wants to write code when you can enjoy sharing your passion.
Your PASSION can bring much extra income and retirement funds.
What is your passion?
Consider your PASSIONS ... they can set you free.
But, how can a Passion help me?
What do you do when you use the Internet ?
I bet you search for information.
Here is the SOLUTION. YOU know "information". In fact, you know an AMAZING amount.
Here is how you can market what you know ...
Are there more ideas ?
Here are MANY ways YOUR Passions can be used to HELP your retirement ...
So, RELAX, think about the unbounded potential you have through your life's work, sport, hobbies and PASSIONS.
Think about the potential of the Internet to reach the entire globe ...
Think about how many want to know the answers to questions that ONLY you can provide ...
YOU ARE UNBOUNDED POTENTIAL
TAP INTO YOU TODAY
and enjoy your Retirement years
The BEST years of your life !