Hosted by Lee Cleasby
FYR 008: Guide to Funding Your Retirement
How you avoid old-age poverty, increase your wealth and leave something for your children will likely require multiple income streams and assets working together
First, Begin by identifying your main goals.
- Wealth building
- Avoiding old-age poverty
- Leave a legacy for your children
- Live the dream, holidays, cars, boats; you know the story
Now Identify your potential income streams and approximately how much they will give when you want it, not when you’re allowed to have it, but when you decide.
- Pensions, with these you don’t have much of choice, its 55 and that’s out of your control
- State pension, again, not much of a choice
- Business income, this you do have a choice in and is scalable
- Rental income from properties, this you can control and is scalable
- Salary, this you can control and is scalable, providing you keep upskilling what you have to offer for your time
Our mission is to help you not only achieve your desired standard of living but to make sure you exceed it. Do not underestimate the power of compound interest, and compound interest is earning money on top of money. Watching your net worth increase over the years is a comforting and rewarding experience; it gives a feeling of security and also the freedom that comes when the time is ready, you will be able to do what you want, with who you want, when you want.