Monday, March 3, 2014

The Most Important Requirement to a Successful Retirement Is NOT What Most People Are Made to Believe

The Most Important Requirement to a Successful Retirement Is NOT What Most People Are Made to Believe
In my opinion, this is the million dollar question when it comes to retirement planning: What is THE ONE THING that must be present and without which your chances of succeeding in your retirement planning are slim to none? As a front-row eyewitness to the retirements of hundreds of folks for nearly two decades, I can tell you that it’s not simply saving a lot of money. 

Most people would agree, if not require, that a practitioner have actual real-life, hands-on expertise in a given field before we’d even consider hiring him or her. It makes perfect sense to want to ensure that a surgeon has already successfully operated on a few folks with your specific condition before agreeing to lie on their table. In fact, I wouldn’t even let someone remove my wisdom tooth unless they had a proven track record of doing just that.
Of course, that’s just common sense, right? So are you applying that same standard to one of the most critical aspects of your life – your retirement planning? Does your advisor have a proven track record that is backed by real-life success stories from folks just like you?
For some strange reason, it seems like many people unfortunately treat their retirement planning as though it were a routine procedure. Something for which they can afford to hire a less-skilled professional than they require in other equally import areas of their lives.
In reality, your ability to retire successfully requires more than just socking money away. And certainly more than radio or TV personalities who haven’t actually hit the trenches and cannot point to real-life results in their work.
Of course, you might get lucky. But would you hire an inexperienced surgeon, for example, and count on luck to be on your side?
Good food for thought!
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