Retirement Is Fool’s Gold

Many people look to retirement as their golden years. After a career of working for a corporation, small business or the government, you can look forward to magical, worry-free years of travel, sports, parties, family, friends, and waking up without an alarm clock. Sounds wonderful, right? Well, not so fast.

Life Expectancy

Today, our common retirement age is 65 years old. Yet, in 1930, three years before the establishment of Social Security, the life expectancy in the U.S. was 62 years old. Thus, a majority of Americans did not even live to full retirement age. The gap between retirement age and live expectancy was quite small. In 2019, the overall life expectancy in the U.S. is 78 with an increasing number of people living into their mid-90s or beyond.

Unfortunately, many people now work in a professional job for 30 years, retire in their 50s, and spend more years in retirement than they worked. With cost of living increases, it is a simple math equation to see that we cannot afford this situation as a country. As people get covered by Medicare at age 65, government payments for healthcare can last for 30 or more years.

Income Streams

Even with Social Security, Medicare, and personal savings and investments, living for 40 years without a solid income stream is a risky endeavor. An economic downturn, major health issue, family problems, housing crisis, stock market correction or many other life events can throw a dagger through your economic plan. Even in an optimistic scenario, a nest egg of $2 million can be spent down to a small level after 40 years.

Outside of money, what about life purpose? Is it healthy to wake up each morning without the discipline of work. Although, to many people the answer is hell, yes. They think that removal from office politics, difficult co-workers, and no more short deadlines is a huge plus. Well, maybe avoiding these issues on a short-term basis is a good thing.


There is a middle ground between working in a highly structured, stressful job and not working at all. The Internet provides a boundless opportunity for part-time, work at home endeavors. As an empty nester with fewer bills along with retirement funds, the supplemental income needed to avoid spending down your nest egg is modest. A monthly income of $2,000 may be all that is necessary to stabilize your financial ship.

At the same time, you will have daily projects to keep your mind challenged, clients to serve, and the satisfaction of knowing that you are still contributing to the economy. This work structure can occur on a flex-time basis so you can integrate your time with work and personal tasks. Your quality of life will stay strong as your bank account grows or at least does not decline. With a consistent income stream, you can donate additional funds to the charities of your choice.


Savvy families know their influence has no bounds especially over multi-generations. Making sure your income grows over a long retirement is the best way to leave money to your family in a way, which can last for several generations. Imagine the satisfaction in knowing your family descendants 100 years from now will be educated or not have to face financial hardship. By setting up a foundation, you can always donate money to a charity on an annual basis long after your passing.

Value of Work

Consider making a commitment to working for as long as you can regardless of the structure. If you have the good fortune of health, which can keep you working into your 80s or 90s, then keep on going. When this situation is not in the cards, dedicate yourself to the unlimited opportunities brought to us by the Internet age. Personally, I like the concept of digital farming. Just as family farm members worked for the remainder of the lives at a reduced pace, we too can work for many more years with digital content. The Internet can be the family farm of the future. Anyone in the household can contribute to family income through online projects or work.

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5 Ways That You Can Retire on Your Terms Even If You Are Getting Started Late

Being a CERTIFIED FINANCIAL PLANNERĀ®, I am naturally more in tune with the truthfulness or, should I say, the intentions of retirement advertising. It’s all about hitting the pain points. Not much fun, right? At least buying a new car or a house is fun. Yet sometimes the important things in life are not “fun”. Retirement planning is one of those things.

When you need a new car, you check out the rates at the credit union. If you need a mortgage you also check rates. In other words, you shop for the best rate before you shop for your car or your new home. When was the last time you said, “Hey Honey, we haven’t saved enough for retirement. Let’s go down to the credit union and meet with a financial advisor.”? Probably never. I wish people were as in tune with their retirement planning as they are with getting a new car or a new house.

To compound matters, the big financial companies, that can afford to advertise on TV like to make you succumb to what I call the Lump Sum Scare. You know, they tell you that you need a lump sum of several million dollars or you won’t be able to retire – ever! I know better. If you haven’t saved “enough” and that is a relative term. It’s as personal as your fingerprints, you can still retire, be they different terms than maybe you are thinking about right now.

Let’s look at 5 ways you can retire on your terms, even if you are starting late.

Work longer, retire later. Don’t forget, each year that you continue to work increases not only your Social Security benefit, if you have a pension it could increase that benefit as well. It will also allow your retirement investments to continue to grow (401(k), IRA accounts, and taxable investments)
Work a second job or part-time after retirement. The first step is to figure out what your income shortfall will be and then you can start considering the type of part-time work you will need to supplement your other sources of income in retirement
Reduce monthly expenses. Yes, this can be a painful process but in many cases, it will be necessary. This is why the budgeting step is so crucial. You don’t know what needs to be reduced if you don’t know what you are spending. Most retirees don’t need to live on their pre-retirement standard of living. It will probably be somewhere between 70-80% of what you are spending now. Once you have your budget you can figure out what can be reduced or eliminated.
Increase the contributions to retirement accounts. Use the power of compounding and time to work in you favor. Even a small increase of $50 to $100 a month can have a dramatic effect on your retirement savings depending on how long you have until retirement.
Sell an asset. Again, probably a tough decision. Maybe not, if that vacation home is going unused now that the kids have grown and are not as interested in using it as they were once upon a time. Or maybe you want to downsize and get a smaller, less expensive home or move to a part of the country that is less expensive than where you live now.

Don’t be brow-beaten by TV and social media. Meet with a financial advisor and decide what your retirement terms look like, even if you don’t have a big lump sum saved. You can still retire on your terms. Even if you are starting late.

Mark Hoaglin has coached hundreds of financial advisors to success with helping Baby Boomers retire on their terms. He speaks and writes on the topics of retirement income planning, social security and other financial planning topics. He is the author of “Think Like an Athlete, Manage Like a Pro” and numerous articles on financial planning.

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How To Make Money From Forex Trading by Utilizing Volatility

Dealers from the currency market are presently a savvy bunch. Almost everybody in the foreign exchange market today is self-trained in studying graphs, or even a consumer of some kind of high technology applications to trade the foreign exchange industry. Many have graduated from utilizing pure technical evaluation into the new-fangled elegance of neural network calling and artificial intelligence. However, a vast majority of those experts fail within their trading, losing cash from their trading instead of making gains. Why can it be so?

The solution lies at the devil within. The dealers that win are people that are capable of implementing their trading strategies with precision and discipline, and more to the point, they could deal with the VOLATILITY of currency trading.

The concept is whether you’re able to identify explosive moves, even if they’re modest, and implement trades using those unpredictable moves, purchasing about the market and market them in the peaks. You stand to earn huge gains. Nonetheless, in practice, lots of inconsistent changes are too quick and miniature to be identified in the time to be exchanged. Where more important unpredictable movements are recognized, it’s a mistake in judgment and also the rate of implementation of the transactions, which decreases the number of gains.

When I researched the way the dealer can regain his losses following a dreadful period of poor trading, I had been amazed at a veteran dealer who informed me that he had been a profitable dealer from day one of the trading. That is by no way a false claim since this flashy trader has at all times been known equally for his enormous skill. He can produce the right calls on the marketplace.

His response additional to my surprise since he stated,” I had been an expert poker player and also the runner up at the Australian poker tournament!”.

Therein lies his fantastic achievement as a Forex dealer also, since a poker player and a winning player at the, he had been used to taking calculated risks.

The key to trading his design was supposed to take calculated risks from his currency trading.

For instance, when you’ve identified a transaction, and you’ve placed company, don’t place your stops close to the entrance cost since the odds favor the stops being struck the majority of the moment.

Alternatively, you can evaluate the likelihood and likelihood of this stops being struck before you put them.

Again, as soon as a trade presents itself, and you’re able to calculate the likelihood of winning will be set up instead of losing, it’s then which you’re ready to boost your transactions.

In the event you want to win large, learn how to calculate the likelihood of winning, and also enjoy the poker player, then bet significant when the chances are in your favor and steer clear of a trade in which the opportunities imply you may lose.

This is the area where Forex dealers will quantify their risk-reward ratios to get their favorite trade setups and will identify which transaction setup is going to bring about more substantial gains and with lesser risks. This method is a skill that you need to learn how to become more rewarding.

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