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Retirement Planning Planning retirement is more than choosing the when and where. It’s about how you plan your present life in order to be assured that you continue to preserve your living standard even after you retire.
The earlier you start, the easier it will be for you to amass the dollars you will need on the day you retire. For example you put aside $1,000 per year for 25 years into an investment earning 10% annually, you would have $108,182. The longer you wait, the less money you are saving.
This process of retirement planning is no easy task. If left on your own, either the planning will be incomplete or not done at all. As I was taught by my mentor years ago: "We must all face one of two pains: Either the pain of regret or the pain of discipline. Regret weighs tons, Discipline weighs ounces. IT'S YOUR CHOICE."
How to Retire in Style!
Human beings, it is said, are distinguished from other species by our ability to think ahead and to plan the future. While that may be true, it is also true, that most of us find difficulty thinking about the long term and preparing for it. We're too caught up in the daily problems. Heck, it's difficult enough to plan something just six months ahead, like a vacation.
How on earth are we supposed to be able to think about something in the distant future -- like retirement?
The younger you are, the more distant is retirement -- and the more power you have at your fingertips in the form of compound returns over time. It's a paradox of the ages that can work to your advantage.
When planning a retierment we need to ask the important questions.
These are the questions that we all need to ask; questions that we often wait too long to ask; questions that surface briefly on occasion, in a remote and dusty corner of the mind, a mind that is otherwise occupied with this minute's conversation, today's project, tonight's movie, and tomorrow's meeting.
Joseph Eid can help you find the anwers to these questions. Once we find the answers then and only then can we start to prepare a solution for the future.
Copyright © 2009 Joseph Eid.
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