When I was really into financial planning I tried to get people to try and do FREE financial consultations particularly with those in their 50s. Far to many of you have a false sense of security believing that you will be comfortable once you retire.
Today I am going to the home, once again, to an elderly man who had the same belief. Though technically he is financially stable it is a struggle to make sure that he will be able to live in his own home until he dies. Healthy most of his life a stroke changed everything. This individual assumed that he would just drop dead one day,
The reality of living is that you will die, I pray you live long and prosper. Based on your current lifestyle, the cost of living increasing faster than your retirement portfolio and the possibility that you will live to be 100 I suspect you cannot afford to live past 70 or die anytime soon. Ignoring your financial health is not going to change the fact that you are living beyond your means.
Give yourself a lifestyle challenge:
1) Go 30 days without using your credit card.
2) Determine what your actually retirement check would be a month and try to live off of it for one month.
3) Make a list of ALL the things you do in a week; if you could not do them who would.
– Don’t forget bathing, and eating (if you had a stroke you may have to relearn how to feed yourself)
– Would you loose your job if you did not work? How would that income be replaced
I live in Miami Florida whenever there is a hurricane warning my husband and I make sure we are ready for whatever comes our way, we are thankful when the hurricane either travels in a different direction or it turns into a tropical depression. Life happens, it is better to be ready than not.
Today I will be visiting the home of a person who was not ready. Not as healthy as he use to be it is only a matter of time before he is placed in a nursing home- he has no family and only one friend, myself and a nurse that comes 3 days a week. What he is going through today could have been avoided if he had listened to the Financial Consultant that I brought to his home last year.
I cannot conclude without mentioning the importance of faith, financial wisdom that will last a lifetime comes from God. This is the real challenge: to develop a lifestyle that is God directed.