Financial Freedom Help Blog

Alternate views of the future of the world’s economic problems are in constant conflict. On one hand you have the perennial optimists who expect a hero on a white horse to ride in and solve all their problems. On the other hand, you have the perennial pessimists who believe the world is ending tomorrow, if not sooner. Somewhere in between, there is room for an approach that recognizes the negatives as warning signs requiring preventive action but not desperation.

There is no one answer but there are at least three steps that you can take immediately to take personal responsibility for your financial future. In most cases, these measured steps should be taken in a sovereign jurisdiction other than in your home country.

If you are serious about enjoying retirement, you must begin planning for retirement now. The retirement plan should keep the following in mind.

First, make a review of your finances. You must know where you are as well as where you want to be and how you are going to get there. If deep in debt chances are you are not prepared for retirement. Your retirement plan must keep in mind that you will need 70% to 90% of your current income to maintain your present standard of living.

These days we can expect to live in retirement for twenty or thirty years — that’s almost as long as we spend working. It makes sense then to do something about preparing for this time of life. As Mark Twain said: “Plan for your future that is where you are going to spend the rest of your life”. Here are five things you should do to prepare a retirement plan.