The 4 Enemies of Retirement

14117655301This may seem like a no-brainer to some of you, but for others it needs to be brought out in the forefront of your retirement plan. What do you have in place for compensate for these 4 enemies?

The majority of Americans wait until age 53 to start saving for retirement because they are so worried and busy making sure that their kids have everything they need. I get it. But we can’t forget the value of time – and having time on our side is incredibly HUGE!

1. Debt – If you have gotten in the habit of financing your lifestyle or trying to keep up with Jones… I hate to break it to you, but there is nothing that anyone can do to compete with 15, 18, or 21% interest rates when you buy things on credit. We are in an “instant” society, but if your money is earning less than what is mentioned above then you can never get ahead. BUT – if you need help getting out of debt, we can help you find money to get it paid off.

2. Inflation – 40 years ago a loaf of bread was $.40 and now it is around $3/loaf. If you had talked to your parents 40 years ago and told them that is how much a loaf of bread was going to cost they would have thought you were out of your mind. 40 years from now, a loaf of bread is going to cost $16.10. Seems impossible. One of the biggest reasons, I feel you can’t afford to have your retirement dollars at risk. But where do you get a return on your money to outpace inflation? That is what I specialize in.

3. Taxes – You’ve heard the saying – There are 2 things in life that you can count on – death and taxes… and most recently you can count on taxes to change. Have you thought about what is going to happen to your tax situation when you retire? Will they go up? Will they stay the same? Go down? We are in one of our lowest tax rates in the history of the US and we have a debt problem. Which bucket do you have your money in: Taxable, Tax Deferred or Tax Free? If you are not sure, it would be worth your time to come to a free money workshop to learn more.

4. Major Life Event – We all know someone who has had a heart attack, stroke, cancer, accident, maybe a chronic illness. These kinds of events will drain savings faster than anything else. They can stop your ability of having some dignity physically or financially. We have no idea what our future has in store for us, but the good news is that there are new products out there that can make sure you are covered no matter what hand you are dealt. I encourage you to find out if you qualify for a Living Benefits policy today.

Money doesn’t have to be an uncomfortable conversation especially if you take the time to invest in yourself by making sure that you know that you know what you know about money and your future. I encourage you to empower yourself by being my guest at a FREE How Money Works dinner workshop. To register for the next event, please visit the link below.

Kristen Judd
Money Secrets
Five Rings Financial
(303) 944-6195