Retirement Planning Tips and Ideas to Build a Solid Financial Foundation

Positive Cash Flow
- Increase Income
- Income is all the money that comes into your pocket from sources such as your assets, salary and businesses.
- Reduce Expenses
- Expenses are all the money that comes out of your pocket in the form of payouts on liabilities and other bills.
- Maximize Assets
- Assets are anything you own that puts MORE money in your pocket than it takes from your pocket.
- Minimize Liabilities
- Liabilities are anything you own that puts LESS money in your pocket than it takes from your pocket.
Financial Foundation
- Protect Health & Wealth
- So, while we look for opportunities, learn new skills, and leap into action, we need to make sure that we protect those around us. That is why the foundation of our house should be insurance. I don’t want to sound pessimistic, but, it is a reality that unfortunate events can occur. Since our main reason is to protect the people we care about, we need to plan against the occurrence of unfortunate events.
- Manage Debts
- Not all debts are created equally. There are debts that buy liabilities (bad debts) and there are debts that buy assets (good debts). This section is designed to help you identify some common myths about debts, find ways to get out of BAD debts, and explore why and how you should get into more good debts.
- Plan for Emergency
- If possible, try to have about 3-6 months of emergency fund set aside, just for that raining day. Try not to touch this fund at any cost. For example, if an opportunity comes up that seems promising and this is the only funds you have in hand, do not use it. It is best if you take out a loan instead. This is your survival fund, not your investment fund.
- Plan for Retirement
- Save for retirement using safe money strategies to maximize retirement and minimize risks. There are essentially two ways to do this. The most common is to get retirement options through employment. The second way is to acquire enough assets with guaranteed cashflow to cover your expenses in your golden years.
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By Worrell, 7 years ago December 4, 2017

Category: Plan for Retirement

Plan for retirement using smart money strategies, with the most tax advantages, to maximize returns and minimize risk.

Maximize Assets

Basic Investing Rules for Acquiring Assets and Planning for Retirement