America is the wealthiest country in the world with a net worth of over 97 TRILLION Dollars. It accounts for 25% of the world’s wealth, and is the home to some 540 Billionaires and 10 million Millionaires. Yet, 80% of Americans struggle financially, with nearly 69% having less than $1000 in savings and only 4% of Americans attaining financial independence or reach retirement. My mission is to encourage and empower people to surpass their potential in their fearless pursuit of happiness, entrepreneurship, and financial success.
In our Financial Literacy and Entrepreneurship series, we pose the question “What’s My Exit Strategy?”
Here’s what the topic “What’s My Exit Strategy?” is about!
Millions of Americans, after obtaining their education as it pertains to a trade or profession, set out into the labor force to begin their careers. They were given the guidance that throughout their working career to invest in a retirement account and down the road they will be able to retire and live happily ever! 🙂 Well as you know, that particular strategy hasn’t quite delivered the desired results for millions of Americans. There are specific reasons why so many have fallen short of reaching their desired objective. “Exit Strategy” refers to exiting the labor force or retirement! Why are so many people missing the mark?
First, millions fail to set “The Goal”, ie, “How much money they want or need annually during their retirement years?” For example purposes let’s say $47,000.00/year”
Second, How much do they need to accumulate in their retirement account to pay them $47,000/year and they not have to work any more?” What’s the exact dollar amount? For example purposes, let’s say $598,000.00.
(Note: $598,000 @ 8% interest annually is $47,840/year)
Next, They need to know how much to invest monthly over there 20 year working career to accumulate $598,000. That would be $1,000/mo @ 8% for 20 years.
Now, let’s now assume that all of the above are a given for millions of Americans!
Unfortunately, millions would still fail to reach their objective, RETIREMENT, if they didn’t also learn the devastating impact INFLATION, HIGH TAXES, and DEBT can have on their CASHFLOW and overall results! Subsequently, if they fail to reach their goal of RETIREMENT, they also typically fail to build assets, “A Legacy”, that they are able to pass on to their children and grandchildren.
Attend this free workshop to learn strategies to overcome inflation, high taxes, debt, and poor savings in order to achieve your financial objectives, to include building a Legacy to pass on to future generations.
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