Retirement Catch Up Strategies
Retirement Catch Up Strategies : Running out of money is the biggest problem we all have in an approaching retirement. During our research we found this article on USA News which should help those of you reading this (just like us) who have become life-long procrastinators burying our heads in the sand when faced with the challenges we now all face in our retirement.
We found this really good article on USA Today called Retirement Catch Up Strategies For Life-long Procrastinators
According to USA Today you can try these savings tips if you’ve fallen behind on preparing for retirement:-
1. Save first, spend second
2. Make Catch-up contributions
3. Decrease monthly expenditures
4. Downsize or relocate before retirement
5. Earn side income
6. Change employment
7. Create cash flow
Now you can read all about these tips over on the article on USA Today and you can of course do all of the things in 1 – 7 but personally (since we’re doing it) we prefer #5 Earning a Side Income
Per the article, if you have the capacity to work outside of your full-time job, consider starting a side business to earn additional money. Side income doesn’t have to be large to make a significant impact on your monthly cash flow. The extra income will free up money for contributions to your 401(k) or other tax-advantaged accounts.
Start by identifying activities and hobbies that you do for enjoyment. Then explore ways to monetize your interests when you have free time outside of your nine-to-five job. If you’re lost for ideas, browse the internet or social media sites for advice on ways to earn extra money. You may be able to find an online course in the niche you’re considering and emulate others who have turned an interest or hobby into income. Don’t be discouraged by a crowded marketplace. Your unique background and perspective can attract an audience or population of buyers to consume whatever it is you’re providing.
Believe it or not that’s exactly how we came to create our side income albeit a rather unusual route. We had been researching online business training for our clients and discovered that we could in fact build a business teaching this to people like you and showing you how to set up a business (side income) leveraging products created by someone else as an affiliate marketer.
We were also looking closer at one of our favourite activies – travel and combining that and our side income we now have a very fulfilled and profitable retirement and able to teach others how to do the same
Last year we travelled to Spain, France, Costa Rica, Puerto Vallarta Mexico, Las Vegas, USA, Singapore And Australia and mentored students all across the USA. That amounted to 120,348 miles (9 countries and 13 cities) culminating in 4.8 x round the earth
That’s quite something to say you’ve done in your retirement following your passion and creating a ‘side income‘!
If you are already retired doing what we do can be a big benefit as well
You can work online and not have to spend much time each day to earn great income…it’s what we learned to do and what we now teach and train others to do.
Look at becoming an affiliate marketer with us. You don’t need computer expertise nor business training. You are given the tools to use and you are shown how to use them.
It is like learning to drive a car. You don’t have to build the car. You are shown what to do. You practice it, and it works!
The experience of working online has been eye-opening and lucrative for us, as retired accountants and management consultants and we know it can be for you too
Thanks for reading and hope we’ve inspired you to consider your retirement future
We think this quote sums up what retirement should be like wonderfully
“Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money”
PS You can download our ‘Mini Book’ while you are here : Top 5 Online Business Ideas For Baby Boomers
Who Are We
We’re former accountants of a certain age (60+) with 5 great kids and 4 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful business online and now speak on international stages following that passion and helping transform lives. We started an online education and training business helping entrepreneurs in their 40’s, 50’s and 60’s create their ultimate retirement breakthrough and find a way to fund their retirement and fulfil their passion and purpose as midlife entrepreneurs. Our worldwide educational business is centered on online marketing business education, financial literacy and wealth creation and a desire to help you create financial freedom through online entrepreneurship whatever your age or experience.
Authors : The Mindset Shift
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