When time can no longer be stretched and the borrowed wealth and public recognition that comes with being a top corporate executive will soon expire, the only logical option you have is to prepare. This preparation becomes even more urgent for you if you have placed your work at the center of your entire adult life and have sacrificed a lot of important things on your way up to the top. If you have been pushing the Idea of preparing for Retirement into the Future, the future is now here. No one is going to hold down the Clock for you until you are ready and the Courage to leave the corporate world will not be bestowed on you either you have to plan and prepare intentionally. It is at this point that you begin to ask yourself the three dreaded Retirement questions
- What will I do when I retire that will excite and drive me like my Corporate Job?
- How will I maintain my current living standard and remain financially relevant when the salary tap is turned off?
- How do I cater for and maintain my Health after so many years of neglect?
The Answers require deep thinking, options are few, time is limited and you need to act now before it’s too late.
You may think to yourself, well I have pension. Pension is great but the government pension scheme that you hope to retire to have a financial flaw that will fail you in retirement. If you want to live a life of fulfillment after retirement, maintain your current living standard, improve your relationship with your spouse, children, and friends, and still, have the time and resources to pursue other outside interest you must plan beyond pension.
The Compulsory Pension scheme has only made provision for 15% of your financial life. You have contributed 7.5% of your salary monthly towards your retirement and your employer has also contributed 7.5% making a total of 15% of your current salary. What this simply means is that you are agreeing to a Retirement Plan that downgrades your current living standard, cut off all the things that currently make you happy and shrink your life into a 15% lifestyle
In fact, the reality is that it would be less than 15%. Your 15% contribution over time will be further divided down by 20 or 30 years and the result of this division is what will be paid to you as pension on a monthly basis. If you decide to take the initial lump sum payment, this 15% is reduced even further. Pension is not designed to help you maintain your current living standard or achieve fulfillment in Retirement. It is designed to help you get by and at best survive on a painful budget.
However, pension is not to be blamed. It is doing exactly what pension was designed to do. The government has made provision for 15% of your financial life, who takes care of the remaining 85%?
It is your Job to make provision for your own welfare and not the Government. If you do not act now and put your financial house in order, when your monthly salary tap is turned off you will be faced with a new reality. Your standard of living will crash, the effects of aging will become more noticeable and you will feel Unwanted and unproductive. You will call your friends but they will all be busy at work and you will miss the corporate world. Worse of all is that you will be putting the future of your children at risk as they will have to juggle between taking care of themselves and their future and taking care of you.
But this does not have to be so. Retirement can be a thing to look forward to when you have the right system and support in place. You can decide how much you want to earn in Retirement, Plan for what you want to do and how you want to improve your health all before you retire. This is the only way to exit with courage.
There are three things you need to do right away to begin the preparation process
First, you need to be clear about what a fulfilling retirement means for you. How much do you want to earn, what areas of your life do you want to secure, and how do you want to live and create your own mark? Getting this clarity upfront is critical.
Secondly you also need to get an income replacement plan in place. You need a financial system that can replace the monthly Salary you have now become so used to and depend on for survival. Your income is the only force that is currently keeping you at the level you are right now. If that force is removed and you do not have a solid replacement for it, it is only natural that you will fall.
The last thing you need to do is to get the right support and guidance to implement your income replacement plan. It is important that you are able to test this plan and experience its functionality long before you retire. There is no second chance once retirement begins.
So how do you set up an income replacement plan? There are Five Things you need to do to successfully replace your current income, maintain or upgrade your living standard and retire without financial fears.
I have put together a special report titled “The 5 Years Retirement Master Plan” explaining the five things you need to do before you retire and how you should go about achieving them.
“To get a copy of the special Report SMS “Income Replacement “to 08101860042
Today, you still have the time tomorrow might be too late. The Only way not to fracture in Retirement is to prepare.