Save, Accumulate, Repeat

April 05, 2012  |   Uncategorized   |     |   Comments Off on Save, Accumulate, Repeat

1. Save
2. Accumulate
3. Repeat

Sound familiar? It’s traditional financial planning. A system that begins with saving, accumulates as much money as fast as possible, repeat. For most people this system is satisfying, comforting and has sufficient merit or value.

There is another type wealth building, a system that “begins with the end in mind” approach. This is the basis for smart, effective, and efficient planning.

Think of it like this, an engineer can’t start to design a building without knowing what has to go on the lot first; a surgeon can’t go into surgery without knowing what the outcome of the surgery is supposed to be. This same concept also applies to the areas of personal finance.

For example, if you asked a regular person on the street why they are saving money many of them would say “for retirement”. If you then asked them, “How do retirement income streams work?” Almost none of them would have a good answer. But, this is the reason they are saving the money.

How retirement income streams work economically define how to allocate our long term savings efficiently today so we can have the most income later. A “begin with the end in mind” system provides people the opportunity to understand how retirement income streams work before allocating money to long term savings vehicles in pre-retirement. That approach to Protection and Wealth Building provides individuals, families and businesses the ability to cut through all the hype, confusion, opinion-based rhetoric, and stereotypes of the financial industry to make sound economic based financial decisions for themselves.

Bottom line, most people I know want to enjoy the highest income streams possible. Do you?