Business

/

ArcaMax

Color of Money: Dreaming of retirement? Don't forget to plan.

Michelle Singletary on

"If you're like a lot of the people I've coached over the years, the very word retirement might give you the same shivers you'd get from watching a Stephen King movie," Hogan writes. "That fear might get your attention for a moment. And while fear can be a wake-up call, it is also a negative emotion. Fear doesn't create energy, and it doesn't really cause lasting change."

So what causes enduring change?

A retirement dream with a plan, Hogan says.

He says to ask yourself: "What is that one dream you have for your future? That one thing that would make you wake up every day and think, I get to do this?"

I'd like to travel for months at a time. And when I'm not on the road, I want to continue working in the financial literacy field, volunteering at my church and in prisons. But to make my dream come true, I can't be worried about money. My house has to be paid off. I need financial security to free me up to serve.

Here's the thing. A secure retirement isn't accidental.

"People generally don't enter retirement with no savings because their plan didn't work; they retire broke because they didn't have a plan in the first place," Hogan writes.

Here are Hogan's five fundamentals of an inspired retirement.

-- You've got to dream. "Dreaming is an action."

-- You've got to have a plan. "Let the plan be your GPS to get you to your retirement dreams."

...continued

swipe to next page
 

Comments

blog comments powered by Disqus

Social Connections

Comics

Fowl Language Shoe Darrin Bell Scary Gary Gary Varvel Strange Brew