That’s a really important question. What are you going to live on when you retire? What legacy will you leave for your family? If you don’t think this is important, then there’s going to be a price to pay and rest assured that no one else is going to do it for you!
Stop and Think
Before you read on I need you to watch a video and read an article I wrote that will explain to you why a lot of what I am about to tell you, just won’t register at all.
You have been programmed to fail. Seriously, 95% of people are programmed to fail because they have been brought up by the 95% of people who have failed before them.
It’s a repeat cycle and one that’s fostered by the 5% of people who have made fortunes by employing the 95% for centuries to make a profit for them.
Go and watch the Strangest Secret now and read the article hyperlinked below the video. It’s probably the most important thing you will do today!
A Reality Check
Here’s a couple of articles, from two different sources, over recent years, each of which tells the same shocking story.
In November 2013, the International Business Times reported that in an HSBC survey, the average savings of people in the UK was £14,401 and that nearly 9 million households had less than £250 in accumulated savings, of which, nearly 2.5m households had no savings at all.
In September 2015 the Guardian reported that not much had changed, referring to a survey by pension providers, Royal London:
“Many face serious poverty in retirement. Worryingly the research found that today’s 30 to 40 year-olds have a median pension pot of only £14,000. Unless this group start to save more, they could face a retirement in poverty.”
- Royal London - Pensions Through The Ages
Based on the research findings, the 18 - 40 year age group recognise that the state pension may not exist when they choose to retire.
Here’s the reality. It’s not hard to save, it’s just about realising how important it is and making some slightly different choices.
We all work hard to earn money, we seem to commit most of our lives to it, but spending it is so darned easy. That’s got to change.
Money cannot continue to flow into one pocket and out of the other. Some of it has got to “Stick” or you are going to become another casualty, living on fresh air later in life.
The sooner you make the change, the better. It’s never too late, just get started. Start thinking of every pound coin you ever receive as being something of value, a member of your workforce that will work tirelessly for you 24/7, so long as you can just hold on to it.
If you can do that, you will be amazed at what you can achieve.
A coffee from Starbucks is not worth £3. You can make a cup of coffee for pennies. Why continue to make Starbucks rich?
Save all those £3’s. They soon add up. One a day over the course of a month is £90 saved. Over the course of a year that’s £1080 in your piggy bank, not theirs. How hard is that?
It’s no wonder Starbucks make so much money when millions of people all over the World are giving them their money like this!!!
And this is just the tip of the iceberg. Stop and think before you part with your hard earned cash. Start to pay yourself first, after all you are the one doing all the work.
Make that your mantra for 2016 and beyond, “Pay Yourself First”, you’ll be staggered at just how quickly you can build a serious savings pot if you can do that.
Create A Legacy – Start Thinking Differently
Thinking like everyone else will destroy you. Step away from the crowd and see what you can achieve. There’s so much to learn so become a sponge and soak up new knowledge that can take you to where you truly want to be.
This is what the Royal London survey showed:
People are clearly delusioned. Financial security in retirement is absolutely 100% your responsibility. Your legacy is down to you. There is no way on Earth that the State will be paying for you in retirement, that is a cast iron guarantee.
It’s time to take action.
There’s ways of taking advantage of tax breaks to reduce your household bills by from 20% to over 40%.
There’s ways of turning time into money and there’s ways that you too can start to live a fulfilled life without the need to ever have to work for someone else again, ever, if you are willing to be mentored.