This video discusses "Just in Time" retirement planning and savings. The video discusses what you need to do if you are approaching retirement and you have no retirement savings and need to catch up now. The video also debunks some of the early negative rhetoric on why people are in this situation and replaces it with actionable steps to get back on track. For those who have no retirement savings, low retirement savings, or just want to enter retirement on the best possible footing, this video is for you. FREE Retirement Ready Checklist: Holy Schmidt Book Club: Important Links: Follow Me on Instagram: Geoff's Facebook Page Federal Reserve Board Survey of Consumer Finances: Social Security Administration Application for Benefits Current Social Security Cost of Living Adjustment Social Security Payment Estimator THE CHANNEL’S MOST POPULAR VIDEOS Should You Take Social Security at Age 62 and Invest it? 7 GOOD REASONS to File for Social Security Benefits at Age 62 Average Retirement Savings by Age 60. Are You Almost Ready to Retire?!? The BEST AGE to File for Social Security Retirement Benefits 3 Social Security "Little Known Facts" That Are REALLY Important Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider....(read more)
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Just in Time retirement planning | Do This ASAP! retirement planning is something that often gets pushed to the back burner. Many people believe that they have plenty of time to save and prepare for their post-work life. However, in today's fast-paced world, having a "just in time" retirement plan is becoming more crucial than ever before. So, if you haven't started planning for your retirement yet, it's time to do so ASAP! "Just in time" retirement planning refers to a strategic approach that focuses on making the most of the time you have left before retirement. It recognizes that traditional retirement planning strategies, which rely on decades of saving and investing, may not always be practical for everyone. Instead, this approach aims to help individuals maximize their savings and investments in the limited time they have. Here are some key principles to consider when adopting a "just in time" retirement planning strategy: 1. Assess your financial status: Begin by evaluating your current financial situation. Calculate your net worth, including all assets and debts. Determine your monthly expenses and identify areas where you can potentially cut back. Understanding your financial position is crucial for creating a realistic retirement plan. 2. Set retirement goals and timelines: Determine the lifestyle you envision for yourself during retirement. Will you be traveling the world or living a more modest life? Set specific retirement goals and create timelines accordingly. This will help you plan how much money you need to save and invest to achieve your desired lifestyle. 3. Create a budget: Develop a budget that allows you to save as much as possible while still comfortably meeting your current needs. Be mindful of unnecessary expenses that can be reduced or eliminated. Setting aside a portion of your income specifically for retirement is key to building your savings. 4. Maximize retirement contributions: Take full advantage of retirement savings options such as employer-sponsored plans like 401(k)s and individual retirement accounts (IRAs). Contribute as much as possible, and if your employer offers a matching contribution, ensure you contribute enough to receive the maximum match. This is essentially free money towards your retirement! 5. Diversify your investments: It's important to have a diversified investment portfolio to mitigate risk and maximize returns. Consider investing in different asset classes such as stocks, bonds, and real estate. Consult with a financial advisor to tailor your investments to your risk tolerance and retirement goals. 6. Continually monitor and adjust your plan: Regularly review your retirement plan to ensure it is aligned with your changing circumstances, such as financial market conditions or unexpected life events. Keep track of your progress and make adjustments as needed. By adopting a "just in time" retirement planning approach, you can make the most of the time you have left before retirement. Start evaluating your financial status, set retirement goals, create a budget, maximize retirement contributions, diversify your investments, and regularly monitor and adjust your plan. Remember, time is of the essence, so start planning for your retirement ASAP! https://inflationprotection.org/retirement-planning-act-now-for-just-in-time-do-this-immediately/?feed_id=116698&_unique_id=64aeff7e165a1 #Inflation #Retirement #GoldIRA #Wealth #Investing #bankruptat60 #brokeat60 #howtoliveonsocialsecurity #howtoliveonsocialsecurityalone #howtoliveonsocialsecurityinretirement #howtoliveonsocialsecurityonly #howtosavemoneyforretirement #ihavenoretirementsavings #no401k #noira #nomoneyforretirement #nopension #noretirementsavingsat50 #noretirementsavingsat60 #noretirementsavingsat65 #retiringcheap #savemoneyfast #waystoreduceexpenses #QualifiedRetirementPlan #bankruptat60 #brokeat60 #howtoliveonsocialsecurity #howtoliveonsocialsecurityalone #howtoliveonsocialsecurityinretirement #howtoliveonsocialsecurityonly #howtosavemoneyforretirement #ihavenoretirementsavings #no401k #noira #nomoneyforretirement #nopension #noretirementsavingsat50 #noretirementsavingsat60 #noretirementsavingsat65 #retiringcheap #savemoneyfast #waystoreduceexpenses
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