May 29, 2023
This paper: Make Yourself A Glorious Retirement Fund, has a simple proposition. You manage your retirement fund in two stages. One: up to retirement age 65 (your choice). And two: the after retiring, where you can withdraw from your fund the income stream you want while your fund can continue to grow, thereby continuously increasing your retirement income.
Make Yourself A Glorious Retirement Fund is more than hinting that you have some work to do. And that it is in your best interest to set up and control your own retirement fund, even during retirement. It is a continuation of the previous paper titled: The Age Of The Individual Investor, which set the foundations for this one.
Most people do not have the time to take care of their investment fund full-time. It is why the proposed solution needs less than 10 minutes a week to execute, the time of a coffee break. You can even do it in almost no time should you opt to buy an indexed fund or ETF.
The objective is to make you a multi-millionaire before you retire should you provide enough time and capital to do the job. And then, to keep your fund growing after you retire so you can continue to enjoy all the amenities money can buy.
You should be in charge of your retirement fund and not depend on any organization or government to do that job. We can hardly say, these days, to have enough confidence in your governments to trust them with our finance and our retirement income, especially since they are moving toward a CBDC (Central Bank Digital Currency) where they will be able to control, freeze, tax, or even seize anyone's funds at will for whatever reason. You disagree with their policies and are vocal about it; they could erase your digital footprint, including any links to your digital assets, bank accounts, credit cards, digital health passport, and investment accounts. Will they have that kind of power? They already have! And you will have indirectly voted for it since it will come from your government.
On a more optimistic note:
The next few decades will see a lot of change. Just look back a hundred years and see all that has happened. We have not seen anything yet. Humanity has never been moving so fast, technologically, medically, and engineeringly. We build things and will continue to build a lot more in the coming years. You have millions and millions of people making new things; some were dreams just a few years ago and are now ready to go mainstream. And more will come.
Invest in your future. It is not only about you but also about your children and theirs.
Half of the children currently five and under will reach 100 years of age in the coming century.
Let's repeat that: half the children. That includes your own.
A retirement fund can last a century and more. Building a legacy for your children and, for them in turn, to continue building a legacy for their children, giving your offspring a better chance to fulfill their dreams and aspirations, not to mention enjoying life the best they can.
Make Yourself A Glorious Retirement Fund states that you should control your financial future without having your selected financial institution go belly up on you. In 25 to 40 years, Social Security might run out of money based on current estimates. If that happens, you might be unable to count on your government as a secured income stream. You would be left out to dry with no time or alternative to remedy the situation. Has company pension funds or Social Security cut benefits before? You already know the answer to that. So, take charge of your future.
The paper also shows the potential cost of not doing it. It elaborates on the missed opportunities and puts a value on it. It shows how much you might miss by not investing in yourself and your retirement. You might be surprised by how much of your potential legacy you might throw away by not managing your own investment fund when it could have been so easy.
May you have a glorious retirement.
Created: May 29, 2023, © Guy R. Fleury. All rights reserved.
