Life Change

When you change the way you look at things, the things you look at change.

" You have brains in your head. You have feet in your shoes. You can steer yourself in any direction you choose. You're on your own. And you know what you know. You are the guy who'll decide where to go. " -
Dr. Suess



Tuesday, March 29, 2011

Retiring Boomers Find 401(k) Plans Fall Short

Retiring Boomers Find 401(k) Plans Fall Short



What are you going to do?  Hope it gets better?  That's not a good plan.
Get a job?  How long do you want to work and can you work?  Until 70+? This is not how most of us would define a good Retirement. 
If you think your financial security is the responsibility of a company or the government, you’re going to be sorely disappointed in the coming years.
Robert Kiyosaki said "Take a look at the difference, for example, between an industrial age pension plan and an information age retirement plan. In the industrial age, companies would employ people for life and give them pensions once their working days were over. Today companies aren’t giving out pension plans the way they used to; less-generous contributions to retirement plans are more common now. And people are retiring earlier and living longer lives. The rules have changed. Retirees need more financial security and thus more-sophisticated ways of building assets than were offered by the pension plans of the industrial age. Unfortunately, most people—those who can least afford to keep their heads stuck in the sand—are acting as if the rules haven’t changed.  The times are rapidly changing, and if you want to be rich, your approach to money and investing has to change too."

Robert goes on to explain the 90/10 rule.
"Throughout history, 90 percent of the money has been made by 10 percent of the people. For instance, 10 percent of the athletes make 90 percent of the money made by all athletes. This is one of the rules of money that Rich Dad taught me. One reason the 90/10 rule has applied is that 90 percent of the people choose comfort and security over being rich. Most of these people do not realize they could choose to be rich.
While the 90/10 rule still holds, it’s being challenged by the changing circumstances that the information age introduced. Thanks to the electronic revolution, it is now possible for more and more people to gain access to the world of wealth, for wealth now resides in information that flies over the airwaves and through television and computer networks. Information is not restricted to the few, as land and resources were in past ages.
The Internet epitomizes this new avenue toward wealth, for it enables the masses to gather information and interact with one another in almost complete freedom. Today it’s possible for people to take their ideas and, with the help of this new-age medium, build products or services around them. Network marketing, the selling of consumer goods, investing, publishing—these are only a handful of the thousands of on-line activities that have been launched by aspiring entrepreneurs and savvy investors.
We’ve only just begun to see what kind of world is possible in this new age of information, but I’ll wager that in the near future, the pressure of the information age is going to shatter the old 90/10 rule. It has never been easier to choose to be rich"
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Ask us how at http://www.lifechangeforlife.com/Get_Income.html

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