What will my retirement lifestyle look like

Are you thinking about retirement… not yet! The thirty-something might say…

Let me ask you this question… What would your retirement lifestyle look like, if you did think about it?

Most of us don’t want to think about the amount of funds we will need to be able to retire comfortably. We may have done the sums based on the super we have now, a panic runs through us, so we shut down. I’m stuck in this 9-5 job for the next twenty plus years and the chances of things changing are remote, you might say.

All the news reports are doom and gloom about retirement, they are now saying we will need one million dollars to retire comfortably in 2017. Who knows how much that will blow out to in the next ten years. They also say that 1 in 3 woman retire with no super and the rest only have $100,000 and men with $200,000 in retirement funds. If that’s not enough the government wants us all working till we are seventy.

This doesn’t look like a future retirement dream to me….

The media is correct

One thing the media is correct in saying… we need to do something more to secure our future retirement lifestyle.

When you look at the figures presented, a single person living on approximately $25,000 and a couple around $35,000 is not much of a lifestyle. You are on the poverty line.

I can relate to people not wanting to think about it, I did that for years. It’s not that I didn’t want to prepare, its more like I couldn’t see a solution. Throw in a few of life events, death of a partner, divorce and illness, all these circumstances can impact on your future retirement lifestyle dream.

Live your retirement!

Even if you are enjoying a great income… you have a nice Superfund nest-egg and own your own home, things could still go pear shaped.

We really need to have multiply income streams or know how to produce them.

Many are comfortable… with their retirement nest-egg working for them, they are also deriving income from their investment portfolios and life is good.

Or should be…

However there are just as many even though they would be classified as financially secure, do not enjoy their retirement they don’t want to spend it, they are full of anxiety and fear about the next rainy period, and they have forgotten how to live life.

So it’s not just about money, it’s about balance…

What would be the point of working hard all your life, if you didn’t know how to enjoy your retirement.  Or you are too scare to let go and live.

Personally, I think some get caught in a loop of collecting security in the form of super or property, it’s similar to the 9-5 treadmill many of us find ourselves on, but this treadmill goes on till they die. (if they don’t enjoy their wealth, their children or grandchildren or relatives will)

What is the answer? Retire before retirement!

In my opinion the answer is simple, you retire before retirement age. That doesn’t mean you sit on a beach somewhere doing nothing… it means living life on your terms and if that should mean sitting on a beach with a beer in hand in some exotic location, so be it. It’s your dream not mine after all! Find out what your why is?

How do I retire before retirement?

We have already established that some retiree spend little of their money, just in case of an emergency. They may well have their nest eggs working for them, however… this can have a psychological effect after working for decades in the corporate world, or in a previous business.

There is only one way to retire early….  learning to create an income stream that you can develop before retirement age, one that can eventually replace your existing income, and can support a retirement lifestyle without the stress of a conventional business.

A business that isn’t age specific, with ongoing support from a community of like minded individuals and mentors. An online business where you can earn, while you learn. There is such a business, subscribe to my email list and receive a seven day video series, for more information, gain some insight to the possibility of retiring early. 

This of course is not realistic to many, the answer is always a simple one, but the implementation is the challenge. I’ve said it before you have to have a business, your own income streams. There is an endless variety of opportunity available today, some of them good. 

Learn more about this opportunity by joining my email list…

 

Women can’t afford to retire today

Most women can’t afford to retire today! There is much talk about retirement, and how much money we will need to retire comfortably. Women in particularly are the most vulnerable, the figures indicate that one in three reach retirement with no funding, and the average woman retires with less than $100,000 in Superannuation or a pension fund. These figures are mimicked throughout the western world, women in particular are at most risk, because of the gaps in their working lives for example –Women will have to keep working

  • Staying at home with the children
  • Parttime employment
  • Equal pay still not a reality
  • Divorce
  • Death of a spouse
  • Ill health
  • Working from home

Men are in trouble also

The list goes on, it cannot be denied that men will also feel the effects of lack of funding for retirement, they may have a little longer to enjoy their retirement, but they will also suffer the same consequences.

It’s not just about money…its about lifestyle and happiness…

Those retiring in the next few years are particularly at risk, for a number of reasons. When you look at the working life of most women, over the last couple of decades, you will find large gaps while taking care of children at home. It’s understandable that women cannot afford to retire

In addition when they were working, it may have been part time, so the income isn’t there to collect in significant contribution.

No one likes to talks about this…

Super funding was introduced into Australia in 1992, we are looking at only 25 years ago, so those retiring now, are already behind the eight ball. They have lost a couple of decades of their working life, contributing to an old age funding scheme. We could extend that by a few years, because it took some employers time to adjust to this new system, with many resisting changes. In addition… throw in those that were working for themselves or using their ABN…. we have a recipe for disaster.

In fact there is a huge moving bubble of baby boomers, ill prepared for retirement and approaching retirement age. No one likes to talk about that, they talk about people not being able to retire because of lack of funds. The only acknowledgement of this issue of time frame, is to extend their working life, beyond 65 years. (maybe they can catch up, if they stay in good health)

The Association of Superannuation Funds of Australia (ASFA) has estimated the yearly income required for a retiree, they broke them down into a number of categories. These figures are interesting and sobering at the same time.

Retirement Standard  Annual Cost
Couple – Modest $34,560/Year
Couple-Comfortable $59,619/Year
Single-Modest  $23,996/Year
Single-Comfortable $43,372/Year

These figures are based on the retiree owning their own home, and in reasonable health. (Source ASFA)

I can not afford to retireDo you really need less money when you retire?

They always say you need less income when you are retired, I’ve always questioned that type of reasoning.

For example you may use less fuel because you don’t have to commute to work… but then you go out more and take day trips… more travel, longer distance.

You still consume the same amount of electricity, maybe more…. Spending more time at home in front of the heater in the cooler months.

You eat the same amount of food. You might save a few hundred dollars here and there on insurances because of your age and concessions can help. We are talking about lifestyle here, I know I don’t want to be talking about the cost of everything and complaining about life. I want to live!

Let’s Break Down – Single Income (Single Modest)

Rates 2,000
Home Insurance 1,000
Life/medical Insurance 1,560
Contents Insurance 380
Car Insurance  700
Car Registration 700
Car Service 400
Food @ $130/weekly 6,000
Petrol @$50/weekly 2,400
Meals 2x$50/monthly  1,200
 Electricity  1,400
 Mobile @ $70/monthly  840
 Internet @ $60/monthly  720
 Netflix   @$12/monthly  144
 Holiday for a week  2,000
 Beauty Salon  ?
 Hair cuts    ?
 Medical  ?
 Body Corp Fees  ?
$21,444  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Budget blowout already

We have already hit expenses of $21,444, and still haven’t completed all the variables, yes it’s true, we can save in this area or that, but at the end of the day this isn’t what I would call a modest single income. You are on the poverty line and we still haven’t finished the expenses.

If you have a $100,000 in the bank, you may get an additional $200 per month or $50 per week if you can access it. However your principle isn’t growing. I’m not a financial planner and I have no skills in this area, my only qualification is how I live and what I would expect a secure lifestyle to look like.

Feeling depressed?

This isn’t the purpose of this exercise, to make you feel without hope. However most of us don’t want to think about it, hoping we might have a ‘win’ somewhere, maybe a long lost relative leaves us a fortune, or we have a windfall by winning the lottery. I know because I have been there too. Is it too late to enjoy our later years, living life to the full? Traveling to distant places, indulging in the things we have put off.

Is there a solution? Or are we doomed to struggle, after a life time of working…

There is an answer, but it does require some investment and a learning curve. It’s possible by following this online business model that you could recover and be able to retire with sufficient funds to enjoy your retirement with an income coming in monthly.

There are no claims made on income, because it is up to you. You can tap into a community of like minded people who can mentor and support you along the way. It’s best described as an Earn & Learn system and worth a look. An opportunity for women who cannot afford to retire, to get some control back for their future. 

Click on the Banner below and take advantage of the seven day video series. You will be able to tell right away whether this system is for you.

 

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All the best with your retirement, I wish you well and good health and a great lifestyle… You can contact me through the Social Media links or through the contact page on this site.

Never too late to prepare for retirement

Retirement is fast approaching for me, it only seemed like yesterday the children were small, and retirement was a lifetime away. That lifetime is fast disappearing and that nagging question fills my mind. Am I set up for retirement? Is it too late to prepare for retirement?

What will the future look like?

Can I look after myself for the next couple of decades and beyond? (My father is 92 years old, active and in excellent health… enjoying a better social life than me)

The truth is I am not set up for retirement… certainly not to live till I am 92 years of age, and comfortably like my father and unfortunately I am not alone.

Today there is an army of women, who will be working well into their seventies, that’s not to say that many, both men and women don’t enjoy working, the question is, what quality of life will they have?


Its been reported that one in three women retiring will have no 
Superannuation. (Retirement funding) according to an ABC News Report.

Throw into the mix, ill health… it’s not a pleasant outlook. Working just to survive isn’t what I imagined my life to be in my later years.

Have you experienced this…

Have you ever watched the news where some individuals were interviewed, and they mention their age… you look up in shock when they are younger than you, and appear decades older, (at this point you usually check the mirror just to be sure) but in all seriousness …they are broken and without hope, its quite sobering…have you enough to retire

You can now understand why some people resort to spending their time and money on ‘good times’ at their local pubs and clubs.

Their prospect for the future seems bleak, based on their circumstances, and for all those looking on.

They have lost hope and vision for the future.

It doesn’t have to be that way… there is a solution. 

What about your future?

Just to be clear here, its about quality of life… and not how much you have put away…

Some save and prepare for that rainy day, and are frightened to spend it, that rainy day ends up being their funeral.

Life is full of situations that can impact on your retirement, death of a spouse or divorce, investments going belly up, the list is endless. It really doesn’t matter how you arrive at this point, the end result is the same, you are not prepared for retirement and you will have to work.

Let’s face it, the government wants us to continue working and not rely on the old age pension… 

We have to find another way, because it isn’t too late…

There are many opportunities today to start an online business, in fact the market is flooded with them. Some are potentially a good option, others not so much.

Personally I look back over the last few years and see a number of opportunities I could have explored, and they may have been successful if I had worked on them. But I didn’t pursue them for a number of reasons.

  • Didn’t like the product
  • The business model required cold calling or telephone salesBuild a business you love
  • Didn’t resonant with me
  • Didn’t believe in myself
  • Ethically questionable
  • High pressure selling
  • Lack of funds to get started
  • Family and friends laugh at the idea

Whatever the reason it doesn’t matter, the point being they weren’t for me, certainly not for the long term. Its never too late to prepare for retirement…there is an online business that fits all the requirements.

  • Its ethical
  • No high pressure selling
  • No B.S.
  • A proven business model
  • Mentoring and support
  • Quality training products
  • Community of like minded people

There is still time to prepare for retirement

Does it take work? Yes, it does. Does it take some investment, and time, yes it does? Is it a get rich scheme? No. Can I do this if I have reached retirement? Yes, there is no age limit. Will it work for me? There are no income guarantees in life, however there is a proven model to follow.

I feel personally, it’s the missing link… that turns a business into a success… 

One of the factors missing in most business models is support and a community of like minded people. This is a business that you don’t have to compromise who you are, you don’t have to pretend you are someone else. You have to be you and you alone, success is being yourself.

Subscribe to my email list and receive the seven day video series and learn more about ways you can prepare for your retirement.