McDonald’s has just had to rewrite their employee handbook because they now have more people over the age of 60 applying for jobs than they do teenagers.




Sadly more people are reaching an age where they should be living a more leisurely life, but they’re flat broke, forced to continue working just to put a small amount of food on the table, or paying for a prescription. You cannot walk into a Walmart or other large store without being greeted by somebody your grandparents age, and I’m convinced they aren’t working there because they’re bored.

To be able to retire today, you need more than a million dollars in the bank. This is something that maybe 5% of the population will achieve. Unless you can live on $800 or less monthly, you cannot rely on social security.

One argument is that expenses drop when you retire, but many people have found exactly the opposite to be true. Medical expenses, maintaining a home, property taxes, home and auto insurance are never stagnant – they will increase every year while your social security payments change very, very little.

With inflation at 3.5% your money will be worth 50% less in 20 years compared to what it is now. So if you have $100,000 in savings (lucky you), in 20 years it will be worth around $50,000.

What’s my point? Well, you need to get a nest egg put aside, but you also need additional money coming in even after you retire. The best kind of income you can be making at this point in your life is “residual”… or, leveraged income. This is money that will come in month after month regardless of whether or not you are working. Examples are rental property, royalties on books or songs and income from programs that pay you over and over again without any further attention on your part.

Take a long hard look at the future and what type of situation you’re going to be in when you retire. It’s sometimes hard to face, especially if it does not look good. But at some point the future will arrive and possibly sooner than you think.

I certainly know I don’t want to be working at McDonald’s when I’m 65 or 70 – and I’m doing something about it. Ask yourselves what you want to be doing when you hit those golden years and what you’re doing about it today. Then take some action by reading this free eBook (in pdf format). Download a copy and share it with every friend you have.

Esther Smith
http://thepermanentventure.com/2up.htm