There are only two sources of income - people at work and money at work. We wake up, we leave our homes (most of us) and we call this 'going to work.' Now days lots and lots of married people NEED both people working to simply make ends meet. I know that we're being told things are getting better, but hey, let's get real here. So, back to my original statement. We earn income by either working or money at work. Could it be that far too many homes have no money at work for them? If they were/are a family like ours, the answer lies somewhere between yes and no. Money was in motion but not in going to work for us in the present and especially not for retirement.
This is a real situation - this saving for retirement thing. In fact one recent article sites that more Canadians are saving for retirement over trying to eliminate current debt load. Many younger Baby Boomers are really starting to make the shift that "hey, if I want to retire decently, I need to start catching up now, and start doing so fast." Now let's consider that in retirement income is derived in the same two ways as was mentioned in the opening sentence. So, what if you knew in retirement that "passive income" or "retirement dollars" could be received in full by everything you've paid into your retirement plan - tax free - would there really be any objection to that? Of course not. And yet, people keep pumping money into tax-qualified plans. Why? because that's always what we've been taught. So, how can you receive dollars as passive income during retirement years and get started on this today...call me or email me and we can discuss it. Maybe it's time to rethink retirement income?
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