Shocking Truth, Australians Are Going to Outlive Their Retirement Funds

 

Do You Have Enough to Sustain You in Retirement

A new report by the World Economic Forum has made the grim warning that Australians will outlive their superannuation account balances by a minimum of 10 years. The report says women will outlive their superannuation savings by 12.6 years and men will outlive theirs by 9.9 years.

If you think we’ve got it bad, spare a thought for the women and men of Japan they’re expected to outlive their retirement funds by 20 and 15 years respectively with less the amount of savings than us Aussies. 

The report described Australia’s retirement saving scheme as “one of the most well-developed from an accumulation perspective, with high levels of coverage, mandated levels of savings and strong investment architecture”.

The same report also says long-term approaches are needed for the retirement phase as people are now living longer after retiring.

Our aging population is placing unsustainable pressure on government and employer-sponsored pension systems

“Our aging population has and will continue to place unsustainable pressure on government and employer-sponsored pension systems, leading to a growing trend for individuals to take responsibility for financing their own retirement. But savings have failed to keep pace with the decline in traditional pension plans, leading to the current retirement savings deficit,” the report said.

The retirement savings gap was already at $70 trillion in 2015 and that could grow to as high as $400 trillion by 2050 if steps aren’t taken to address the issue.

Han Yik, Head of the Institutional Investors Industry at the World Economic Forum, said people need to invest in their retirement savings earlier in life and that “The real risk people need to manage when investing in their future is the risk of outliving their retirement savings,” Mr Yik said.

“As people are living longer, they must ensure they have enough retirement funds to last them through their longer lives. This requires investing with a long-term mindset earlier in life to increase total savings later on.”

We need to be thinking about tomorrow, today and plan for retirement so we can live comfortably and do the day to day things we like as well as have the freedom to travel at will, if we so desire.

We haven’t “worked”  since we were in our early 50’s after leaving a bricks and mortar business that took up about 100 hrs a week of our time, it was a 7 day a week business that left us tired and exhausted…on average most people only work 40 hours a week.

You’ve heard of the 40, 40, 40 plan…work 40 Hrs/week for 40 Yrs and retire on 40% of your earnings! It wont be enough in our aging society. 

So you might be wondering how we have survived especially as we are still not at retiring age and therefore don’t receive  a pension. 

What did we do…we found a way to generate income from home. 

If your looking for ways to supplement your income check out what we do LEARN MORE or follow us on Facebook HERE 

 

Disclaimer: I am not a financial advisor, please speak with your own FA. Information sourced from internet.

What’s Holding You Back

 

If you want to finish the race of life, if you want to make it to the finish line, you’re going to have to let go of some things that may be holding you back in the race. Call it de-cluttering; call it simplifying; there are some things that need to be laid aside in order to finish well.

What kind of things am I talking about? The things that cause you to get discouraged. It could be your limiting beliefs. 

A good place to start would be with the things that are of no service to you and work your way through to what’s going to get you where you want to be. 

Think of it this way. If you attach one light bulb to a battery, the battery will run for a long time. If you attach 100 light bulbs to a battery, it will go dim and dark really quick!

When you keep adding things to your schedule and your life, you will quickly become discouraged and tired.
Lets call it a weight……..

A weight is anything that slows you down. It could be a relationship, a job, an activity, or a sport or is it FEAR. It doesn’t have to be a bad thing that slows you down. Sometimes a weight can be good things, because if you overdo either in your life, you’re going to collapse because good or bad it is going to deplete you. You need to learn to say “NO” to grow. Your not expected to do everything.

A weight can also be an unrealistic expectation that comes from peer pressure or the need to please someone, or it can be a memory. You might be stuck in the past, holding on to a happiness or hurt. The problem is that you can’t live in the past or even in the future; you can only live in the now. Trying to do anything else will weigh you down.

Whatever the weight is, if it isn’t working in your life, if it’s dragging you down, you need to let it go.

Identifying these are easy, right? They are the things that you know to do but you don’t do them. You know the keys to living a healthy lifestyle or keeping your finances in good shape. But do you do them?

If you have stumbled across our blog, firstly, thank you for taking the time to read it… and if you are looking to make improvements in your life check out what we do LEARN MORE or follow us on Facebook HERE and if we can help send us a message so we can have a chat.

Our mission is to help you…

Invest In Youself Invest In Your Future

You are Your Greatest Asset

 

A young boy or girl aiming to become an elite athlete or sportsperson will spend countless hours, practicing/training and implementing techniques in order for him or her to one day be at the top of their game.

Just as a young musician aiming to one day perform on stage will take the time to learn all there is to know about music, musical techniques that will improve his/her overall skills in order for them to release a piece of music that many will sing and play along to.

Whether they know it or not, in both examples, the athletes and sports people and musicians alike, these individuals are doing one thing that will prove to be the most valuable thing they can ever do for themselves.

They are investing in themselves.

Where you will stand and what new things you will be capable of doing tomorrow will largely depend on what you do to improve yourself today. 

To learn is to grow.

Without working on ourselves and improving ourselves every day, it would be unrealistic for us to expect a much different future from the one we have right now, it would also be unrealistic for us to perform better in the future, because we will be no different tomorrow from the person we are today if we don’t invest in ourselves. We are our greatest asset. 

Invest in yourself invest in your future.

If you want See How We Became Entrepreneurial Grandparents & Live Life On Our Terms, Giving Us Income & Freedom To Live life on our terms, click the link below.

We are here to help you:

https://ronandrhonda.com/

What’s Your Future Look Like

What’s  Your Plan for Retirement! 

Retirement is something people plan mostly throughout their adult life.
Some people start very early, and others wait. Whatever you have done, the first thing you need to do is take inventory of what you have in savings and investments and figure out if it’s going to be enough to live comfortably without having to worry about whether or not you can afford to do what you want when you want because let’s face it you haven’t worked for 40 hours a week for 40 years to retire on 40% of your salary.
Whether you are close to retirement or are years away, what happens when the paycheques stop coming? In Australia you need upwards of $300,000 to live comfortably 

“Once you’ve retired it’s just a pile of cash, so you have to ask yourself, ‘How do I effectively use that pile of cash to create an income to sustain me and my family for the rest of my life and continue a legacy moving forward?’

Casey Marx president of Crown Haven Wealth Advisors says there is no “one-size-fits-all” solution when it comes to retirement planning. The first tip to retirement is planning and simply knowing where your money is–something many people don’t know.
“You’d be surprised. In some cases, we find our clients have a pension they totally forgot about 30 years later and they’re really excited that we find it. But the point is you have to consolidate all your accounts. And even if you’re not going to consolidate it all into one spot, at least know where it’s all at. 
One of the biggest fears people have when retiring is running out of money. A spending plan should be part of your comprehensive retirement especially if you plan to travel and stay active. 

Just finished up our webinar “How to Dodge the Retirement Crisis While Capitalizing on the Internet Boom – Ready to go Online Franchise / Affiliate Marketing…if you want to work with us one on one click the link below to get access to the replay
https://ronandrhonda.com 

Future Proof Your Retirement

How Long Till You Retire!

Who says you have to be 60 whatever or whatever age it’s looking like for you, perhaps it might be 70, to retire. With the internet at the forefront of today’s world 🌍 what’s stopping 🛑 you from retiring at any age.

With the power of the internet you can live your life on your terms while making a lucrative income (honestly) instead of working 40+hrs/week for 40+years to live your life at “retirement age” 60-70 years of age on 40% of what you were earning.

I don’t know about you but I’d like to be financially comfortable in my retirement.

A report by the World Economic Forum has made the grim warning that Australians will outlive their superannuation retirement account balances.

Han Yik, Head of the Institutional Investors Industry at the World Economic Forum, said “people need to invest in their retirement savings earlier in life.”

We have gone from being employed by employees exchanging time for money to owning our own bricks and mortar business where we worked 100 hours a week and having no life or time freedom to being internet marketers. We’ve been in the industry for 10 years and have done various forms of affiliate marketing which have been quite lucrative for us as well as giving us time freedom to do what we want when we want. We haven’t been Employed by anyone since we were in our early 50’s. We decided to work smarter rather than harder.

SO, whether your coming up to retirement age or your just starting out in the work force, you too can work towards setting yourself up to be financially free NOW and do all the things you want to do when you want and not have to put in a holiday request to the Boss. I’m NOT telling you to quit your job immediately and jump in boots and all (although some people have been known to do that 😳) however you can start on a part time basis and work your way up to your current salary and then you can think about quitting your job if you want to.  

Don’t get me wrong…you will have to put in some hard yards in the beginning, what you make will depend on YOU and the FIRE 🔥 in you to succeed. I can not guarantee your success just like I can’t guarantee you winning the lottery. It’s all up to you. 

If you want to know How To Dodge The Retirement Crisis While Capitalizing On The Internet Boom, click the link below we are here to help and guide you through all the training. 

 

https://ronandrhonda.com/