Age 60 With Little or No Retirement? Learn the Truth and Three Solutions to Create a Healthy & Comfortable Retirement

According to GoBankingRates.com 1 in 3 Americans have not saved for retirement. About 13% have $300K or more. If you find yourself scared at your prospects for being able to retire let's explore several solutions that will work for you.

How You Might Be Feeling

If you feel anxious at your prospects of being able to retire that feeling is actually exactly what you need to make it go away!

I hope that feeling is actually scary. It was for me too. It's signaling a huge truth; you will have to face your fear of change and conquer it.

I will let you in on a little secret. You grew through life and learned through others to create your fears. In your youth you didn't have them however fearful well meaning people taught you to create your barriers. Now you have this story you tell yourself about what you can and can not do.

You Can Change Your Story

In order to make your retirement successful you have to do something different than you've always done. Right?

You can either read these solutions and accept them and make changes by facing your fears or you can continue to believe the make believe story that got you here.

I'm here to help you. My role is to coach you through your fear and help you learn to recreate your story.

Let's get going! You're feeling hopeful now! Onward!

Solution #1

Become Healthy and Fit

Emerson said, "Your first wealth is health." The first solution is to become healthy. Obese Americans spend about $1,500 more per year than others just on health care and even more on other aspects of their life. It's cheaper to be healthy! Being healthy starts with a choice. Heart disease and cancer are the #1 and #2 killers of older Americans and they are both preventable.

Becoming healthy starts with what you consume. Good nutrition will have the most impact on creating good health. Start with learning what you can about food and change your eating habits. Below are some general guidelines:

  1. Eat a balanced diet (eg. 40% good carbohydrates like raw fruits and vegetables, 30% protein; organic and antibiotic and hormone free is best and 30% healthy fats; a balance between the three types of fats.)
  2. Avoid foods that are acidic like coffee, shell fish, breads and pasta and any form of soda pop. Consume foods that are alkaline like raw fruits and vegetables.
  3. Avoid processed sugar because it is poison to your body. Sugar is very toxic and creates a great deal of inflammation, joint problems and nervousness.
  4. Drink plenty of water containing minerals (About 1/2 your body weight in pounds in ounces of water daily)

Move your body daily. The number one reason to exercise is to provide your brain with more oxygen. The second most important reason is to aid your body in the removal of waste and toxic material.

As you age you lose lean muscle. Do exercise that will load your muscles and tendons with weight and build lean muscle. As you age the number one solution to gain lean muscle is eating more protein. New Zealand whey protein is the best to build lean muscle.

Solution #2

Begin to build a residual form of income

Let's be real. At age 60 you don't have a lot of time to stick a bunch of money in a 401K plan if you plan on retiring in the next 5-10 years. This is why the first solution is gaining health. Becoming healthy is the easiest of the three solutions and will substantially improve your ability to use solutions #2 and #3. With good health and energy you'll be able to produce more income and you'll spend less of your budget on regaining health.

If you are intrenched in the idea that the only solution is to continue to work for someone else, perhaps you're depending on the economy turning around and landing a better paying job, I wish you well and there will be no reason to read any further. The truth is the only way you can do this is to take matters in your own hands and do something for yourself. In today's technology and relationship based economy it's not only a reality, it's the wave of the future.

Let's do some simple math to get an ideal why creating a residual income stream while working for someone else is a better solution. Here is a simple way to determine the amount of money you'd need to have invested and retire with some certainty.

Take the amount of monthly income you'd need to supplement any other form of retirement like Social Security or a small pension. Take that number and multiple it by 12 to create an annual amount. Then take that product and divide by 3%. The answer is a minimum amount you'd need.

For example, let's say you need $1,000 a month extra in retirement to supplement your other forms of retirement income. Multiply that by 12 to come up with $12,000 a year extra supplemental income. Divide the $12,000 by 3% (12000 / .03) equals $400,000. Is that amount shocking to you? Keep in mind that this amount does not take into account inflation and the the $1,000 a month will steadily buy less and less.

Now do you see why I say at age 60 it might be very difficult to sock away $400K in 5 to 10 years by working for someone else?

What is Residual Income?

Residual income is simply income earned from profits that is not linked to the time you spend to produce it. It's what you see owners of big companies do everyday but perhaps thought you'd never be able to do it. It's like TARGET stores. The owner of TARGET collects profit from all the stores they own regardless of the time they spend, i.e., while the owner is on vacation, TARGET is open and creating more profit.

You're thinking you'd never be able to build a TARGET. You're probably right. But technology and innovation make creating a stream of income like TARGET possible for ordinary people like you and me.

Residual income can be earned at the same time you're working for someone else. That's what makes this strategy perfect for you.

Some Forms of Residual Income

Ok, if you've read this far you are probably interested in learning more. That's awesome and I commend you! Most people would have quit reading at the first solution as their mind shut down at they listened to the story they tell themselves. As I share with you alternatives do not allow the "I Can't Monster" to scare you! In each of these methods there are turn key solutions for people just like you.

With the proliferation of the the internet and smart phones, anyone, anywhere, has access to millions of paying customers. In fact, you were introduced to this piece via social media! See what I mean? These solutions are all internet based however one is both internet based and the old fashion way, word of mouth, people to people! If you're not tech savvy, it's probably going to be the best solution.

Selling Goods Through the Internet

You may have purchased something over the internet from a person who was creating residual income. Many people use Amazon, E-Bay and Craig's List, to name a few, to sell products. Other's use email marketing. These people purchase goods at wholesale and resale them at retail. They have to learn how to market, create distribution channels and track their orders. They are adding value to their customers. They work out of their homes and while they are sleeping or working in a job, the internet never quits working to take orders. Sound like TARGET?

The downside to selling over the internet is that you are your entire team. In the beginning you'll be responsible for ordering, marketing, inventory, delivery and everything else.

There are online vendors who can teach you how to do this. Amy Porterfield or Jeff Walker's Product Launch Formula are two I've used to learn how to do this. If you have a unique product or service you've developed this is something to really consider doing.

Solution #3 is a combination of Solution #1 and #2.

Solution #3

Network Marketing & The Evolved Economy (Word of Mouth via Technology)

You may have heard of Network Marketing. I'm amazed at the bad rap network marketing (NM) sometimes gets. I must admit I was turned off by it originally. After I really took a look at the model I discovered I was turned off by pesky insecure network marketing people. I learned that the pesky people twisting my arm never approached it like a professional.

We are also into a very new type of economy. It's called the Evolved Economy. I explain it more in the link at the end of this article. You'll want to read it because it explains how and why the economy is changing and how you can work a 9 to 5 job and still provide for a good retirement.

The reason I like network marketing in the evolved economy for you and me is because it is truly a turn-key solution. While Amazon, E-Bay and Craig's List may all work, there is a steep learning curve. In NM the companies and their associates in your distribution system, are there to help you get started. Many of those people, like myself, are leaders and great mentors. Many have owned other businesses and have been involved in the profession for many years. The best part about this over the other two resources I gave you is that it's free. The other two you'll be paying a consulting fee to.

Here are some positive attributes of Network Marketing in the evolved economy:

  1. Low start-up costs. You can get started for about $500-600. Plus if you enter a company that sells products to improve your health, you'll get to consume most of that cost and gain better health!
  2. There are many successful companies that probably sell a product or service you already believe in and they would be a good fit for you.
  3. With targeted effort, you can create a meaningful residual income working part-time in 5 years that would really help you in retirement. This will allow you to remain working your full time job while you build a network that will sustain itself after you retire. While my results are not typical, I was able to create a multiple six-figure income in six years. Many I've mentored, earn $500 to $2,000 per month after a few years of targeted part-time effort.
  4. You'll receive the training you need to become a Professional Network Marketer and never have to resort to the tactics of the pesky insecure associates you might have experienced in the past! They will help you become the best version of yourself and help you make the world a better place!
  5. It is truly residual income where after you build your network with good leaders it can continue to grow without your focused time commitment.

What's Next?

You have to decide if you're willing to face being uncomfortable to start something new at this stage of your life or continue down the same path that got you where you're currently at. I've given you some resources to sell online if you think that is the best way for you. You might decide that neither that or network marketing is right for you. You might even decide that working on your health is not something you'd be willing to do. One thing is certain, if you don't change and do something else you're likely to end up exactly where you currently are.

If you decide that you'd like to learn more and talk to me about NM or the other solutions, please click on the button below. It will take you to a site that you can leave me a message so you and I can explore this together. I will protect your inquiry and at any time I send you an email, you can opt-out. I'll only send about one or two per month.

My promise to you. While I'm partial to my NM opportunity because it helps you achieve better health (solution #1) and residual cash flow (solution #2) for retirement and will be around for many years to come, I will answer your questions so you can make a good choice for yourself. I'm aware of many companies and their distributors and would refer you to them if my opportunity doesn't seem to be your best fit.

I hope to hear from you!

Michael Lantz, Wellness & Leadership Coach

Created By
Michael Lantz
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Created with images by moise_theodor - "juggler trick apple" • sasint - "talented people the activity asia" • skeeze - "running runner long distance" • Wicker Paradise - "Fruit!!!" • skeeze - "push ups exercise fitness" • geralt - "play stone network networked" • Alexas_Fotos - "time is money businessman time of" • Joye~ - "Old Friends" • jakeandlindsay - "Start"

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