Retirement is something you’ve never done before, it’s inherently scary because of that fact alone. How can you know how to do something properly if you have no experience doing it whatsoever? Unlike other things, it isn’t something you get to practice or gain experience in, you only get one shot to do it right. Most people have no background in finance at all. You’re not armed with the information to prepare a long term detailed cash flow forecast, to properly handle inflation, to navigate the tax code, or to research the best investment vehicles to support your plan.
Because of all of this it seems incredibly daunting and overwhelming to even begin and to actually get this done. This book was meant to give you the overall picture, followed by a step by step guide to build your retirement plan. We will cover all of the categories required when building a plan, and the individual steps to master each category. I want you to always be very careful about general rules of thumb you hear about.
As you will learn, everyone’s situation is relatively similar. We all want to retire and live comfortably. We all have either a pension or social security, some savings and retirement accounts, we all invest, and we all pay taxes. However the nuances of each individual situation can create some shocking differences for why one strategy or investment is perfect for one person, and a horrible idea or investment for the next person. This is what creates the daunting and confusing challenge, and is what this book is meant to solve.
This book is not going to give you specific recommendations, because I don’t know your specific situation. However, this book will arm you with the things that need to be taken into consideration, and it will help provide recommendations of what to do depending on your situation and what you are trying to accomplish.