Escaping Retirement Poverty

As the wealthiest country in the world you would imagine after 45 years in the work force your retirement would be comfortable….Unfortunately statistics show 95% of Americans at the age of 65 cannot retire or have to depend on family and social systems. Additionaly more and more of the rare 5% that do retire comfortably are living longer so are forced back into the work force in their later years. When I ask most clients about their retirement plans the question is typically met with a dazed look and shoulder shrug. For some it seems retirement is a distant twinkle, and for others it is becoming the 600 pound gorrilla. The difficulty with these extremes is the first needs only slight attention to obtain future security but the idea is often shelfed because there are currently bigger fishes to fry. The latter usually need to make larger investments to secure financial security but now risk adversion and fear of failure cause analysis paralysis. There is no snake oil or secret sauce to escape retirement poverty. There is a three step process that will aid in hitting the hammock:Make a plan: This is often easier with a mentor, counselor, or friend that has the fortitude to keep you accountable. When ever I am assisting a client in making a plan it includes their current financial picture, forecasts, and future necessity. With these components we find the end term financial consideration in achieving the goal. Once this number has been established alond with the period of time til retirement we can work backwords in producing a plan to build a profitable real estate portfolio.Find a team: In any pursuit a team does not add to the likelyhood of success but rather multiplies the odds in your favor. So on the road to financial freedom to decrease your risk and speed the results make sure you have specialists in tax preparation, asset management, real estate finance, real estate acquisition, real estate management and again a mentor, consultant or friend to hold you accountable.Take Action: For most taking action can be very uncomfortable due to the unknown. A smart man once told me you have to do what’s uncomfortable until it’s comfortable, that is the only was to grow. The fact is there will be bumps in the road and it will probably be harder than you expect but isnt your family’s future securtiy worth putting in a little elbow greese? One group in particular, Stone Equity Group, is a real estate network specialized in assisting busy professionals build profitable real estate portolios in changing markets. SEG has a board of advisors that cover areas from tax strategy, asset protection, residential investments, reos, foreclosures and many other areas important in building and protecting your nest egg. Regardless of your dream remember one thing. “He who aims at nothing will hit it every time” Ancient Chinese Proverb. ~ Joshua Host