How to Possibly Rethink Retirement Income

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?

You a Banker? Yes, It's Possible

Why you should read this before 2014...

Having recently passed the Infinite Banking Institute Practitioner's Exam as taught by economists Robert Murphy and Carlos Lara along with Nelson Nash, author of Becoming Your Own Banker, I'm excited for the way of sound money practices you and your family could be implementing in 2014.  Why would I be excited about you becoming your own banker in 2014?

1.  You may learn information that could revolutionize your family financial picture for the next five, twenty, perhaps one-hundred or more years.  Infinite Banking is about implementation of imagination for wealth development, family legacy planning, financing your family needs and wants out from under governmental stipulations.  The things you can do as your own banker are infinite and could be started in 2014.

2.  I'm excited that you could become your own banker (and use me as your banking coach) because I'll be with you as your banking coach for the lifetime or your plan unless you or I pass away.  In other words, we get to hang out and find ways to help you develop your financial goals and dreams into reality.

3.  I'm excited for you to become your own banker because banks are making a killing off of us. Banks will no doubt be raising interest rates in 2014 to make even more money off you and I.  In the November 18 Special Edition of Bloomberg Businessweek p. 28 it clearly states that it's not a matter of IF rates will rise but when in 2014.  In addition savers have been clear losers in the last 30-years in the banking industry and these savers are moving on from banks to other modes of saving with higher yields.  Don't you think banks are going to want those savers to return to them?  As an aside the four largest banks in the U.S. made $214 billion in profit from the end of 2008 to third quarter this year.

By becoming your own banker and implementing the banking process for yourself you begin to practice sound money lending and spending habits while using your money AND you set the terms of repayment while you earn money in a tax-preferred environment.  Yes, 2014 could be rocky as far as commercial banking is concerned and the rise of interest rates - but I prefer to look at this not as a potential economic bust moment for you, but an opportunity for you to call me and allow me to introduce you to an unparalleled financial tool that is sound, proven, and tested but proven strong - The Infinite Banking Concept.

Call 816-588-2328 or write mzimmeribc@gmail.com for more information and insight.  You can become your own banker in 2014! Take control of your money and use all of it to create a financial tailwind for success.

Retirement Fund Penalty - Huge Rethink!

I post some thoughts today in light of this article about the financial shortfall for a widow whose husband withdrew retirement funds at sixty-two rather than sixty-five.  First, I was saddened for this lady.  The penalties, loop-holes, and regulations are there for a reason, but it still saddens me to hear that this happened to her and does happen to countless others in her situation.  Second, this article made me think that what I do in teaching the Infinite Banking Concept is so vital to people right now between the ages of forty-five and fifty-five.  This time frame for people is so critical because if retirement funding has been limited or needs a dramatic boost, at
Life Success and Legacy we can provide a free retirement analysis on how to turbo-charge retirement "passive income" as Neslon Nash says in his book.

Finally, I share this today because if a couple or individual would simply look at Infinite Banking as a viable retirement option they would see that the whole early withdraw and the whole idea of penalty at 62 and limited Social Security at 65 or beyond for a widow - the whole article I've re-posted becomes in a sense a mute point.  Why?  because we're talking about a dependency on a government structured plan rather than a plan that YOU control and design.  Take this revelation and run with it.

Infinite Banking and KPERS

Retirement for Teachers Looks Shaky

Thinking about my father, wife, mother (who are teachers or have worked in the public school system) and countless numbers of teachers I've known through the years it occurred to me that state supported retirement funds, such as KPERS (here in Kansas) have been shaky at best lately in terms of funding and promises to deliver on future funds to its retired teachers.  Coming across this article from the KNEA home page and inset articles like this one from the Wichita Eagle make me wonder in honest inquisitiveness, will these propped up plans and recovery systems to ensure proper funding really work?  The better question is will the money paid in to "the system" by lifetime educators really be there?

If, according to the article, the state is supposed to contribute a set amount but underfunds or the state goes to a defined contribution plan (which KNEA opposes) then who's stuck at retirement time?  You guessed it - teachers and other vested KPER contributors.  Then I have to ask myself, with retirement numbers jumping higher and higher as boomers retire from service and more dollars pouring out than in "the system," what's a younger generation to think about this whole deal?  This thing looks shaky.  This post is not meant to say that KNEA can't handle its business regarding the best care for its teachers or vested employees, this post is simply to ask - could there be a better more assured plan for retirement for teachers who want a more sure foundation to stand on in regards to retirement income?

The whole intent here is to ask do we REALLY believe in what we thought we knew about our retirement pension as public educators?  Could there be another incredible option/financial vehicle for teachers that is better suited for some teachers who are willing to step out of "the box?"  I believe there is, and it's called The Infinite Banking Concept.  The concepts taught through IBC flies in the face of what we thought we knew, but it is most assuredly worth the investigation.

Retirement Tougher for Boomer Children

I came across this article through my feed reader of choice the other day talking about how it will be pretty tough for children of boomers to retire.  The level of expected standard for living is as high as boomer parents but maybe not achievable for Xers etcetera, etcetera, etcetera.  Collapsing Social Security system, so on and so on and so on. I'm not trying to be glib or trite here because I think what the article is suggesting has some real merit.  But on the other hand I think we should pause and consider that government propped programs will struggle in the days ahead as many have in the past and do even now in the present.

If you read this you now as a Gen Xer or even as a boomer you question IF you will have a Social Security assistance.  You question IF your 401(k) or 403(b) or those mutual fund holdings are all really safe and accessible as funded.  Let's be real - the picture isn't so bright in this area.  And most of us have been pretty much taught to suck it up and just sink more money in, because that's what we should do - no plan B.

But the retirement picture can look better.  The picture gets brighter and more colorful when we keep an open mind and explore what Infinite Banking can do.  This is what I teach through Life Success and Legacy.  We can read articles like the one mentioned nearly every day, so why not keep an open mind and just see what Infinite Banking could mean for you and your retirement future.  Send me a note if interested.