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Early Retirement: Would you like to travel the world at your leisure?

March 3, 2019 By Ann E. Nelson Leave a Comment

Do you want to be able to pick your retirement date? If you want an early retirement then would you like to travel the world at your leisure?

The biggest difference between a comfortable and a modest lifestyle is the cost of our leisure activities. What type of lifestyle do you want in retirement, modest or comfortable?

I like the idea of more people having the choice to retire younger. The trick is to know what sort of lifestyle you want to enjoy in retirement. Once all the essential expenses are out of the way then our lifestyle budgets will get the balance of funds.

This could mean the difference of over $10,000 per annum or more for a couple. It goes back to planning and have you given much thought to what you want to be able to do in retirement? Do you want to travel and if so how often and to where? Are you happy to do a road trip within your country or do you want to travel overseas? Are you planning to go the movies, take in the latest show at the theatre and go to the game? How often will you eat out?

If you struggle to make ends meet then leisure pursuits will have a modest budget. You can still have an enjoyable life but you will have to put effort into planning your social activities on a budget.

To achieve early retirement we all need to have a strategy in place to save more than we spend. The earlier you want to retire than the more you need to save. How much is enough is the age old question? A guide is to put away at least 15% of your income.

In some countries it is compulsory for an employer to put a portion of wages into a retirement plan for employees. A good start for you then is to top up your retirement savings with the difference. In Australia compulsory superannuation for retirement is currently 9 1/2 per cent of gross wages. You need to be prepared to save at least 5 percent extra towards retirement on a regular basis?

If you want to get really serious then you could consider extreme savings. Mr Money Mustache states that ‘your middle-class life is an Exploding Volcano of Wastefulness’.  This website advocates that you will easily be able to cut your expenses in half so you can save half of your income. Even  saving two thirds or more is possible. Mr Money Mustache claims that by spending much less than you earn is the way to get rich. The ONLY way with surprising effects: if you can save 50% of your take-home pay starting at age 20, you will be wealthy enough to retire by age 37.

Norm Pyle and wife Deb from Kneedeepinit.com, decided to retire to a life on purpose. They had a radical shift and moved from cold Colorado to retire to the island of Vieques, PR. Norm & Deb were able to achieve their dream  when they decided they wanted to live our lives on purpose, not on autopilot. So that’s the mental shift they made, and that in turn made all the difference to their retirement savings.

Depending on which country you live it this may or may not be possible. It would be a good challenge to see what you could cut back on to save more of your take home pay packet. I read of a lady in the USA that after having a hard look at her expenses decided to sell her house, save the mortgage payments and chose to live in a trailer park. The mortgage payments went into her retirement savings instead and she is now well on the way to having an early retirement.

One family have given up their cars. They catch public transport, ride push bikes and walk. You can run a ruler across all of your expenses like buying the cup of coffee or more every day and see where money is being spent on non-essentials items.

 To make significant differences to your savings may require a complete re-think to how you currently live. Are you up for the challenge? Depends on how badly you want to be able to pick your retirement date?

Filed Under: Retirement Planning Tagged With: Ann E Nelson, Early Retirement

Retirement Coach Shares The Best Way To Prepare for Retirement

February 25, 2019 By Ann E. Nelson Leave a Comment

Settling into retirement can be relaxing, fun and carefree for those who prepare well. Retirement coach Ann Nelson shares insights into how to make the most out of the later years in life.

For many people, retirement can feel like a huge unknown, and getting organised for this lifestyle change can create feelings of uncertainty and doubt. Contributing to superannuation funds and trying to understand the best way to prepare for retirement are both common concerns in social and mainstream media.

Have fun in Retirement

Retirement coach, Ann Nelson says she often receives questions about super contributions, lifestyle choices, how much to save for retirement and advice for empty nesters. “How much do I need to retire at 55 is something I hear often from people who are incredibly organised, and aiming to retire early from their working life. But the biggest concern from people is that they will run out of money, or won’t be able to maintain the lifestyle they desire based on their savings and superannuation funds,” says Ann.

“I always encourage people to spend some time planning their retirement before it comes around at 65. Typically ask yourself questions like, what type of lifestyle do I want, how much money have I saved, and how much money will I need each year. If the answers to these questions come up short, that’s okay because there are always income supplement options for people who want to top up their finances.”

The best way to prepare for retirement: 

  1. Start saving for retirement as early as possible. “If it’s viable, always try to contribute 15 per cent towards a superannuation fund instead of the standard 9.5 per cent,” says Ann.
  2. Downsize. Ann’s advice for empty nesters is to always downsize once the children have left the house.
  3. Plan. “People need to re-evaluate their life goals and organise their retirement finances around their expectations. “If you’re planning on retiring early, you need to be organised. If you don’t know where you’re going, you won’t know how to get there.” Ann says.

Speaking out of experience after becoming a widow at age 55, retirement coach Ann did a lot of research work, interviewed retirees and asked a lot of questions to be able to cope up with retirement alone: “Retirement can be worthwhile and fun. It is not lonely no matter what your budget is. Stop stressing, find the calm in you; financials don’t have to be scary.”

Filed Under: Retirement Planning Tagged With: Ann E Nelson, Retirement Coach

Three Tips for a Smooth Transition into Retirement

February 25, 2019 By Ann E. Nelson Leave a Comment

Retirement is another major phase of life, just like going to school for the first time, getting married or seeing the children moving out of home. While some people manage to jump into retirement smoothly, others find the adjustment to retirement difficult.

Retirement coach and author of ‘Retire Well, Retire Happy’, Ann Nelson says there are ways to make the transition into retirement smoother and manageable so the change doesn’t feel drastic after participating in the workforce for decades.

“Most people preparing to retire can start to feel lost, because they’ve identified within their job or income for most of their life. Once a purpose has been set heading into retirement, the decision making process becomes clearer, and there’s a sense of contentment and satisfaction,” says Ann. “You don’t need to change the world or save the planet in your later years, you just need to enjoy the last part of your journey.”

What's your Ideal retirement look like?

3 Tips For People Preparing To Retire:

  1. Make a decision about where to settle down before reaching retirement. “Moving as a senior can bring about a sense of insecurity, fear and discomfort, which can be traumatic,” says Ann. “It’s always better to know your surroundings and trust your neighbours as you age, just in case remaining completely independent becomes a challenge.”
  1. Focus on making healthy decisions, for the body and the mind. “My healthy living tips for seniors would be to join a supportive and friendly community group, exercise regularly, and eat in moderation,” says Ann. “Staying happy and healthy will make it possible for you to do the things you love.”
  1. Be prepared. “Try and stay flexible, so changes don’t knock you sideways. Psychological blows and unexpected financial outlays can be difficult to manage if you’re not prepared for life’s changes,” says Ann. “Always have a back-up plan; it’ll only add to your feelings of security.”

Ann encourages people to look for volunteer opportunities for retirees in their area, to combat the void after finishing up with regular work. According to Ann, joining a club, group or new community fosters new friendships and gives a sense of purpose, which are two of the things most commonly missed from working full time.

“When we feel happy and content, we tend to breathe more deeply, smile more frequently and laugh more easily, which relaxes the body and increases oxygen intake,” says Ann.

Filed Under: Retirement Planning Tagged With: Ann E Nelson, Retirement Coach, retirement planning

Is there Secrets to Success? Learn Some Truths About Success.

January 24, 2019 By Ann E. Nelson Leave a Comment

Is there secrets to success? Learn some truths about success. Most of us grow up believing that the rich and successful people have a secret formula that gives them an edge we should have.A secret “they” should know that we do not. Authors and sellers make small fortunes each year selling these “secrets” of success. Here’s the truth: there is no secret to success.

Why do people say there is a secret to success?

Marketers like to refer to information about the success as a secret because it captures people’s attention. Everybody wants the secret, whatever it is. And many people want to know the secret of success.

A good example was a movie and books, published a few years back called The Secret. Of course there is nothing in that book or video that was really a secret. It was all the content that had been published in books in general circulation in the past. But by marketing information as a secret the author grab’s the media’s attention and commanded higher sales of materials.

There is another reason why people want to believe in the secret of success. We all want to believe we are quite capable and intelligent people. As such, we must be sure to be successful unless of course there is a secret that they do not tell us. That seems the only way they can be successful and we are not.

The study of success

Many have wondered, as I do, not what makes some people more successful than others. Some of these people are involved in a serious study over a long period and compiled lists of the common characteristics of successful people. The American father of this kind of literature was Benjamin Franklin, who published such characteristics in his Poor Richard’s Almanac. In the 19th century, wrote a number of authors, including Horatio Alger, Wallace D. Wattles and Napoleon Hill on this topic. Hill was probably best known for this lifetime study of the subject and his many books on it.

In the 20th century bent some new authors on the subject, including Zig Ziglar, Jim Rohn, and Dr. Stephen Covey. Covey wrote his doctorate on the subject and studied a lot of literature about it. He later published these findings in his bestselling book, The Seven Habits of Highly Effective People.

Clues not Secrets

What all these writers and researchers found was that success leaves clues. If you study what successful people do, and equally important, what they do not, you will learn how to create success.

There are two excellent ways to learn what makes people successful. Firstly, do what all successful people have done, directly studying successful people. Observe them and learn from them. Many successful people are happy to share their success “secrets” with others, even your mentor.

A second way is to read about successful people. The more you read about the many ways that successful people have achieved success, the more you learn about these clues to success.

Darren Stephens is leading by example. A man from humble beginnings and only high school education Darren Stephens has gone on to become a successful entrepreneur, author, master marketer, hypnotist, publisher, internet and franchisee expect.  Darren’s biggest growth came from learning, getting into workshops, seminars, being coached and mentored through different aspects of his various businesses. Darren admits that most of all mind-set plays a critical role in his and everybody’s success. Darren now commands thousands of dollar for an hour of his time.

Darren J Stephens

Darren’s tips to success:-

  1. Get yourself a coach or mentor;
  2. Create a vision of what you really want;
  3. Do something that you’re passionate about
  4. Model someone else’s success
  5. Take massive action
  6. Continually educate yourself to grow and learn

Listen to Ann E Nelson as she chats to Darren J Stephens about his views on the Secrets to Success.

Filed Under: Retirement Planning Tagged With: Darren J Stephens, Success

Tips on How to Supplement Retirement Income For Seniors

January 24, 2019 By Ann E. Nelson Leave a Comment

Retirement coach, Ann E Nelson shares tips on how to  supplement retirement income for seniors to live a life they love in the later years. Without adequate finances, maintaining a good lifestyle after retirement can be challenging.

Retirement can mean many things for different people. While some welcome the change in lifestyle pace and the gift of newfound freedom and flexibility, others worry about maintaining a good lifestyle after retirement after leaving regular employment and the security of a full time wage.

Often the thought of retirement in Australian society conjures up images of travel, spending time with family and friends, and enjoying relaxing hobbies, however fun, nurturing and carefree plans for the future can become stressful and overwhelming if the retirement fund money runs out. Instead of feeling content, at peace and happy, some people are forced to go back to work, or to live the last days of their lives in poverty experiencing financial hardship.

poor woman

Retirement coach, Ann Nelson says that because retirement has many variables, planning for the future can sometimes prove more difficult than people think. “Sometimes a person’s life savings for retirement don’t quite meet the expectations for the lifestyle they’re hoping to maintain, and they’re confronted with a scary situation that they never planned to be in,” says Ann. “In situations like this, I encourage people to move to Plan B to get back to living a life they love and the easiest way to do this is to supplement retirement income.” www.retirewellretirehappy.com

With people living longer now than ever before, Ann Nelson says the working population – even young people – should consider saving for and planning their retirement as soon as they can, and contribute extra money to their retirement fund whenever possible. But for every situation where a retiree falls short financially, there is always a solution.

“There are many ways you can achieve your goals in your later years, even if the sufficient savings aren’t accessible. This can be overcome by finding avenues to supplement your income; you shouldn’t have to give up your dreams,” says retirement coach, Ann. “Some retirees turn their hobby into a business. Others may try things like consulting work, writing a biography, planning parties, serving as a personal secretary or setting up computer systems. There’s always room to be creative with things to do in retirement, and there are always options.”

Ann Nelson became a widow at 55, and was forced to manage her finances alone. She gained knowledge from seminars, joined groups and sought advice. She made mistakes along the way but gained wisdom from them. With one book under her belt, she is now a podcast show talking with others to and sharing stories on how to have a successful retirement, just as she has – in their later years. www.retirewellretirehappy.com.

To find out more about retirement and Ann Nelson’s inspiring story, visit www.retirewellretirehappy.com.

Filed Under: Retirement Planning Tagged With: Ann E Nelson

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