Finance

Is Your Retirement Plan Still Intact?

Fast forward to today. Larry’s plans have altered dramatically. He is now facing the prospect of working for at least another 5 years, maybe longer, that is if he can keep his job that long. But he’s worried; there have been some layoffs. His investments have dropped dramatically in value as has his 401k. His financial picture took a nosedive, almost overnight.

Fast forward to today. Larry’s plans have altered dramatically. He is now facing the prospect of working for at least another 5 years, maybe longer, that is if he can keep his job that long. But he’s worried; there have been some layoffs. His investments have dropped dramatically in value as has his 401k. His financial picture took a nosedive, almost overnight.

Larry’s career took him to middle management in a large national company. His career was enjoyable, but now that he was close to retirement he was really looking forward to his time being his own. His three weeks of holidays was looking way too short. He dreamed of camping and fishing trips and not having to be back for Monday morning, being able to explore back country areas he didn’t have time for in the past. He planned to travel more often to visit his two children who lived out of state. He’s always wanted to spend some time during the winter in a tropical climate and now planned to do that, maybe spending a month or more if he liked it.

He felt secure in the knowledge that his 401k was performing nicely. He had a few other investments that were not doing badly either. His plans were coming together; he was getting impatient for those final two years to be done. He would then feel that his life was his own!

There have been some dramatic changes for Larry. Now his portfolio has shown steep declines and he wonders if and when it will recover. He’s facing the reality of needing to work for at least 5, maybe more, years. And job security is on his mind as there have been some layoffs in his company.

Another major worry: He’s also hearing more and more news reports about the massive national debt, and how that could trigger inflation, recession and possibly another depression. He’s not sure what or who to believe any more.

These events have caused a major change in Larry’s outlook on life. He’s no longer looking forward to his retirement. He’s just hoping to hang on.

Not a pretty picture.

What about you?

Have recent events caused you to change your retirement plans? Are you having to push that retirement date back, possibly several years? Do you view your coming retirement with dread rather than seeing it as a time to celebrate?

Sadly this is the reality for hundreds of thousands of people. And most of them don’t see any way out.

But a solution is available for some people.

I use the term “some” people deliberately. You see, even though people can change their lives and their situation, I know that most people will not take even simple action to make this happen.

If you’re are an action-taker, here’s what you can do to change your retirement picture: Start a home-based business.

Of course not just any business. If it’s going to change your retirement situation you need to examine the specifics of the business

You need to have a close look at things like the track record of success, the type and quality of the coaching and training, is there a lucrative compensation plan, is there an established system in place for you to follow, and a solid company backing it up.

The smart thing for you, if you’re in this situation, is to do some checking.

Want to find out more about retirement income? Visit Kim Thornton’s site LovingYourRetirement.com to learn how a simple home based business can dramatically improve your retirement plans.