The amount of money you need for retirement and the amount of work it requires will humble just about anyone. I remember having this plan to retire, and when I ran the numbers, and I saw that I would have to keep working until I was in 50s, I said there has to be a better way

So I figured out that way, and I retired about 25 years before I turn 50, but I do want to be honest, what I mean by retirement is this, I could not work and live; but I chose to work because I love job and what else would I do, watch tv.

One more thing, retirement has different layers,

Survive without working : Cover your expenses basic

Live without working : live comfortably

Strive without working : go on vacations and fancy dinners

These all sound same, but they require different amounts of money

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1. Establish what your Survive retirement Plan looks like

-Forget about the fancy cars and the fancy house focus on what this reality looks like

-What would be your core expenses per month and multiply that by 12

-For most people most likely 30-80k

Here why:

-It’s you most likely have debt, a mortgage or other forms of obligations

-So the first to make that number go down would be, eliminate the debt, save for emergency and invest and payoff the home at the same time ( home and invest at the same time not the other steps )

-And this lowest your cost of living by a ton

Here is a real example

-My numbers use to be a lot higher, I had 350 bucks per month of debt, 750 of rent and 500 for everything else ( no car loan )

-But with a paid of home and no debt

-Effectively I can live on less than 1000 and survive eating organic food

Step by step:

-Get your annual Cost

-Work on lowering it

-What that new number is with the stock market multiply by 25 and with real estate multiple by 12.5 ( that’s at 8% )

-Benefit with stocks you can buy today and real estate you have to wait till you have all them cash to buy

After that:

-You work on your lIve budget then your Strive budget

-But take it step by step

2. The Honest Truth

-This can take you 10-15 years to do

-But that’s a lot better than 30-45 years or to never accomplish it because you have so many wants

-Remember the man who loves to walk, will walk the further

Ps. I have a full course teaching this

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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