So how does one acquire a high level of success?
Work your butt off that’s how!
‘Seriously, if we think back to school….What does schooling teach us?’
To get a good education and then get a good job and climb the career ladder for the next 40 years.
So what’s a good job? Doctor, Lawyer, Engineer, Banker, Pilot…… YES the all of the above, but does that mean you are happy in your chosen profession for the next 40 years?
According to Careers Advice online, the average person will change careers 5-7 times during their
I am up to 3 career changes, not bad going; since this no longer seems to the norm these days!
Anyway, point being; the schooling system is there to serve a purpose and that’s for you to become a slave to the system and ‘have you work for your money’ for the rest of your life, ‘report to a boss’,‘take 4 weeks annual leave’ and ‘pay in to a pension’ fund with some remote possibility that you actually get you some kind of decent return for you to live off in your retirement years.
So do you think is a realistic structure?
I mean by the time you are in your 40’s, how much in pension funds will you have accumulated?
When you start to look at the figures, plus the yearly brokerage fees, combined with the ups &
downs in the market, you are averaging 6% yearly return if you are lucky.
So how do you think you are going to retire at 65? No wonder the Australian government rose the retirement age to 67 recently. People now need to work longer to acquire more savings in the hope another 2 years will make much difference in the whole scheme of things to the average Jo.
So let’s do the maths; have you worked out how much pension you will have by 67 years of age to live the life style that you have become accustomed to? Let’s say on average, we anticipate we would need $100,000 per year to live off to live a comfortable lifestyle.
Now let’s say we forecast living anther 20 years, age 67-87.
20 years x $100,000 = $2,000,000. Yes! THAT’S RIGHT $2million needed to retire!
So can you see by doing this simple maths, that by 40 years of age, working for a boss, the average Jo will only have a faction of the pension funds saved needed for retirement by 67?
So where does this leave you?
Perhaps it’s time to look at getting out of the system and try something new?
“Learn how to have your money work for you”.
So until my next blog post; thank you for taking the time to tune in LifestyleCoach101.
Ciao 😉 Amanda