Over the last few weeks I’ve been perplexed by a number of challenging statements that have come my way by some of the more mature folk I have been chatting with online .
Consumers who have left planning for their retirement late, believe quite strongly, that financial education is a solution for younger people who have enough time to do something about it.
After giving it some thought and google’ing ‘successful old people’ I found out that:
- Colonel Sanders first franchised KFC (Kentucky Fried Chicken) when he was 62
- Ronald Reagan became president of the United States of America when he turned 70
Isn’t that amazing?
Now I realize that you may not have aspirations to become the President of South Africa but I can tell you that retiring comfortably one day and living your life without financial stress is a learned skill.
Being a Money Coach ™ for the last 15 years has taught me that the reason 94% of consumers in South Africa will never retire financially independent is not because they never earned enough money. They simply were never taught how to translate their hard work into wealth building activities.
If you’re in your 50’s and only now starting to focus on your retirement planning it doesn’t mean it’s too late. It means you have less room for error and not that you don’t have time. I know this can be very stressful so I take great care in saying that taking ACTION will help you solve this dilemma.
To date, Truth about Money has educated over 18,000 consumers who have learned life changing skills such as how to get rid of their debt and how average middle class earners are successfully building wealth and achieving their financial goals.
I can tell you from my experience that the general turn around time you can expect from not having accumulated much wealth to having a portfolio of shares that is growing substantially year on year with maybe your first rental property mostly paid off, is about 10 years. But only if you put your mind and heart into it, with hard work comes great rewards.
I promise you that if you take on this challenge and don’t throw in the towel, retirement will probably be one of the most exciting times of your life.
If you are around the 50 mark and may have started late, by the time you are in your 70’s you could have an investment portfolio that has matured very nicely because it will be 20 years in the making by then. This could also have built enough momentum to then carry you into your later years with a lot less effort.
If you want to give yourself a running start at getting this right then take advantage of the fact that Truth about Money will fund the tuition fees for you to attend The Financial Independence short course that is available at 44 Boston City Campus and Business Colleges around South Africa. It’s a digital course that will take you around 8 hours to complete and can be completed on campus at your own pace.
To apply click here
Most people have been practicing the incorrect approach to money for most of their lives, which makes it seemingly difficult to change. The answer lies in taking action and more importantly the right action.
I hope this post has served you well and we look forward to having you on our course and hearing how your life has changed.
Author: Gary Kayle – Money Coach ™ at The Money School ™