Most Common Retirement Regrets - by Tony Martinez
Tony Martinez is the Founder and Chairman of the US Tax Lien Association, which is an organization that is committed and dedicated to helping others achieve total financial freedom through the power of investing in Tax Lien Certificates. With over 30 years of expert experience, Tony is the world's #1 authority on the subject of creating enduring wealth through the little know strategy of investing in Tax Lien Certificates, which gives anyone the opportunity to earn guaranteed fixed rates of returns of 18% – 36% interest per year, and acquire valuable real estate for approximately 10% of market value.
No matter how far away your retirement date may seem, you need to start thinking about it now. Actually, don’t just start thinking about it, plan for it. I know many of you are thinking, ‘that’s why I’m here isn’t it? Learning how to invest in tax liens and tax deeds.’ Well, there’s more to preparing for retirement than learning how to invest in a lucrative and niche market. You need to actually apply your skills, reinvest and/or save your profits, utilize a Qualified Retirement Plan, and much more. On this note, I’ll list below what many of our students have named as their biggest retirement regrets.
The first and most common regret I hear is that they wished they started saving money sooner. The years of course moved by quickly, and now that retirement is right around the corner that nest egg is sure starting to look small. I understand we all have so much going on in our lives, but by waiting just a few years to start saving we miss out on hundreds of thousands of dollars in retirement.
Another regret is that they wished they had spent their paycheck more wisely. Take a look at what you spend your money on each month. Really take a moment to document every purchase, was everything a necessity? Or is there something you can cut back on, so you can invest that money to make it work for you?
Consider downsizing sooner than later. Many of our currently retired students wished they had sold off or given many of their belongings away sooner. A big house takes a lot of energy, time, and money to upkeep. By downsizing, you are of course preparing yourself to live on a fixed income while simultaneously keeping money in your pocket.
As mentioned, there comes a time when you need to aggressively apply your investing skill set. Don’t set tiny goals you know you can achieve within a month or less. Think big! Bigger than buying one lien in the first year, because that won’t get your money working for you fast enough.
The last point I would like to discuss is seeking professional financial advice. You know Tony Martinez and I are not ‘do it yourself’ kind of guys; and we do surround ourselves with people who are smarter than us. By doing this, we grow and gain new insights into things we specialize in. Don’t be embarrassed about where you are at financially today, while there are plenty of good books and articles about developing a great financial plan it’s always a good idea to get a second opinion.