Recently an associate of mine brought a word to my attention that is overused by the financial world, “Retirement.” I have been in the financial service industry over 50 years, and wealth management companies, financial institutions, financial advisors, and financial planning specialists misuse and/or overuse this word. My friend said the word suggested to her " the end of productivity or being put out to pasture”. There are also other words that are excessively used: retiring, retirement planning, retirement nest egg and retirement funds.
I think the thought process should be, what are you choosing to progress into? Whatever age you choose to end your current career; you should be progressing into a new phase of your life. You are not retiring from life, just your JOB! The question should be, what do I have a passion for that can be of service to those in my sphere of influence? All the years you work at a JOB are valuable. Your education, being mentored, on the job training , and your years of experience, should be paid forward to the next generation, after all you can only play so many rounds of golf or travel all over before that is unsatisfying.
The thought process now turns to funding this new chapter in your life. Is there enough cash saved in various funds to support a different career path or lifestyle? How can these funds be accessed in a way that will ensure I will not outlive them or pay more taxes than I should ? What are the various economic factors which will deplete these funds if they are not properly structured?
Using a thought process like this offers you the ability to be productive in the later stages of your life. If your health permits, you can have a successful influence on your family and the next generation. Instead of retiring, progress into the new phase of your life with excitement and enthusiasm!
A Freedom Cash Strategy Provides The Flexibility To Think Outside The Box!
What the primary purpose of, “Private Pension by Design’’ is outlined in the attached video.