Most Americans will not have the retirement which they hoped for because conventional wisdom taught by Wall Street and Washington has rigged the game for them to fail. 46% of all Americans have less than $10,000 saved for retirement (Employee Benefit Research Institute). 87% of adults say they are not confident about having enough money for a comfortable retirement (Lifehappens.org, 2014). One out of every six elderly Americans is already living below the federal poverty line (U.S. Census Bureau). American workers are $6.6 trillion short of what they need to retire comfortably (Boston College Center for Retirement Research).
Contrary to popular belief, planning for an enjoyable retirement is more than simply waiting out the ups and downs of the market, it is through a process driven system, not hot investments that boom today and bust tomorrow.
In order to be successful in planning for your future, you have to adopt a process (a strategy) not just the use of one product (mutual funds in your i.r.c. 400 plan). For example, let’s take a look at the game of golf. If you were to ask any golf professional or even a weekend warrior, “What would you rather have, the ability (the swing) of any golfer who has played the game or the best clubs ever made?” They would respond with, “ability” because it is the process or the swing that wins, not the clubs.
The same is true for the game of financial independence. There are a myriad of different products available to a consumer, and like golf clubs, they are important. You can’t play golf without the clubs; and like the golf swing, it is in the process of how you use the financial products which dictates your success.