The 250K Conundrum
Conundum meaning “a confusing and difficult problem or question” and indeed it is. We’re talking about The 250K Conundrum facing retirees! Yes that’s us! People who’ve just turned 60 and looking to retire and enjoy the fruits of their labour …. only it’s not quite as simple as that as you will discover.
Now you note we didn’t say £250,000 or $250,000 because that’s not as relevant as the fact that it’s what leading Forbes columnist and money manager Ken Fisher requires you to have in “your portfolio” to be able to assist you with your retirement planning
250K seems to be the magic number when it comes to what you need for your retirement but here’s the conundrum – the difficult problem – the difficult question …
What if you don’t have access to 250K to create a retirement portfolio?
The 250K Conundrum Story
As you probably know from our story we share inside our book, we thought we were high and dry creating our portfolio for our retirement. We had invested our savings into property and thought our retirement was pretty much taken care of. However nothing could have prepared us for the recession of 2008 when our portfolio was pretty much wiped out. Gone in a flash.
Here’s the 250K conundrum ….
You don’t have that 250K for your retirement portfolio
Maybe you’ve suffered something along the same lines as we have?
Maybe you haven’t planned at all?
Maybe you’ve just put off thinking about it and buried your head in the sand like the proverbial ostrich …
The question is “what the heck are you going to do about it?”
Be assured the 250K condundrum is not going away and each day you put it off it just gets closer
If you don’t believe us then just listen to Randy Gage and what he has to say on the subject of retirement in his book Mad Genius – A Manifesto for Entrepreneurs
“….Take retirement, for instance. For years financial planners have advised their clients to save a small percentage of their income and invest it. But that was when people lived seven or ten years after the time they retired. Now people are living thirty years after retirement. When that number moves to fifty (or two hundred or never), it will require serious rethinking. The longer your time frame is after you stop earning, the greater the danger that inflation will threaten your financial security. Of course, eventually, the age at which we retire will be adjusted up dramatically. But for the transition generation or two, there will be previously unseen and serious threats to their financial security …”
What we’ve realised since finding our solution to the 250K condundum is that entrepreneurship could be the answer for many people in the same position we were
Starting your own business is extremely satisfying and gives you the opportunity to do so much more than you ever imagined – for us it’s given us freedom to travel, we’ve discovered a passion for teaching and training and now we can share that experience with others and do something worthwhile with the rest of our lives.
It’s a business but it’s one we love and we can’t honestly see ourselves ever retiring
If you’re in your 40’s, 50’s or 60’s the 250K conundrum could be solved if you do something about it now
Why not take a look for yourself
Images Credits : Shutterstock & personal images
Who Are We
We’re former accountants of a certain age with 5 great kids and 3 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. Our worldwide educational business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online through entrepreneurship whatever your age or experience.
Authors : The Mindset Shift
Skype : chrisbeesley1 susanbeesley1
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