I was almost retired for the last two weeks…

When I started my career as a financial advisor, I was only 32 years old. No money to my name, no grey hair and no experience…just what everyone wants from an advisor right? But I knew one thing:

People love truth and they want to see things clearly!

The first tool I created was the idea of the Financial Windshield where I explained to people that I already knew they were geniuses when they saw things clearly. So I would ask them how many people they’d run over in their car the past year. After a laugh they of course say “zero” and then I explained that they’re a genius when they see clearly.

My job is to help people see so clearly that financial decisions are easy!

I gained a ton of knowledge and worked harder than any of my peers to become the most knowledgeable advisor on the planet. What I didn’t have though was the concept of what being 65 and retired was like. I really had no reference point that would help me put my self in the retiree’s shoes, to try to live off just the money saved up…until these last two weeks.

For the last two weeks I took each of my children on individual work/vacations with Dad

It’s important to me to make memories with them and to include them in what I’m doing as they mature and can handle more and more responsibility.

I worked a few hours each day, meeting clients and teaching seminars, but most of the time was free time or play time with my kids. I had a certain amount of money and needed to make it last for the whole week with each kid. I was kind of…..retired or as close as I’ll ever come to understanding it until my day comes.

The first thought that came to my mind whenever I went to pay for anything was “crud, things are expensive….how much will I have left once I pay for this?” There’s an awareness when you are spending down a chunk of money that creates tension. “I hope we don’t run out before the week is up!”

Well, retirement is the ultimate vacation and never ends until you pass away. The money needs to last at least as long as you do and many of you would like to leave some behind for loved ones as well.

Here’s the good news!

In retirement you do not need to use a “spend down” plan like I did for my vacation budget. You do not need to worry about running out of money before you pass away. All you have to do is set up your plan properly and you’ll never run out of income. It takes three types of money or wealth tools:

  • IN-Case-Urgency Funds (bank) and Emergency Funds (Single Premium Life Insurance with Full Return of Premium)
  • IN-Come-Lifetime Income Annuities (Most Advisors tell you to skip this step because it doesn’t pay them as well as putting all of your money at risk. This is how you buy your peace of mind and guaranteed lifestyle so don’t skip this step)
  • IN-Crease-Growth….anything you like (stocks, bonds, real estate, gold, cash value life insurance..whatever you want)
I call this The Retirement Plan that never fails because you never run out of income and your income is fixed therefore not dependent on how the market does.
So, when it’s your turn to go on a 30-40 vacation called retirement, buy yourself some guaranteed income and live the life you deserve!