Your Retirement
Try to set goals for your retirement
How much income do you need? Divide by 5%, 5.5% and 6% and that will tell how much you should have at retirement. Example: at 5.5%, 1 million will produce $55,000 in income that should increase over the long term. 2 million will produce $110,000 of income. The most important thing you will do is set your goals. Remember, set your lifestyle to fit the plan and stop worrying about status symbols. Live within your means and save the amount needed at 10 to 20% (the older you are the higher the percentage) of your income. If you goal is right and you save enough to reach it you will have a complete retirement.
Relax in your retirement
The husband and wife should have a retirement meeting at the end of each month for 2 hours - one hour to go over the month’s results and answer any questions that each of you have. The next hour is to get things off your chest that need fixing and to make sure that the dreams of each other are blended into the retirement plan. As an example: my wife wants to stay home in the summer to enjoy our family and warm weather. She wants to be home for Easter, Thanksgiving and Christmas, so travel is planned for either May or September. We will also go to Brazil or take a short cruise in January as we have rental condos there (I don’t recommend that you invest there) that are rented out the rest of the year. We go to Cancun in April for two weeks. Our children are invited as we have a two-bedroom timeshare there for the 12th and 13th weeks.
Roy and Meredith Henry at dinner in Las Vegas on my 70th Birthday
For my Birthday on October 27th and in May, we go to Las Vegas for a week each time. We have a floating timeshares on the strip by Planet Hollywood. On this trip, we go by ourselves since what happens in Las Vegas stays in Las Vegas. J We are not serious gamblers but play the slots a little bit. We like the shows and try to see three shows each trip. We both like our schedule and have a wonderful time. I have a bucket list (I am not sick) of a few things that I want to see while I am still alive. The main thing is that both of us know what’s going on with the results each month. The dreams and practical wishes of both of us are built into the retirement plan. If you have hobbies along with family and travel you will never be bored. If you think you may be bored, take a nap. J
I came from a very poor family. My father passed away when I was 10 years old. I did not finish college until my 50’s. I planned, worked hard and saved all my life. America is the greatest country on Earth - and gave me all the freedom I needed to become a multi-millionaire by age 60. I know you can do the same with hard work, saving and the help of this website.
Roy Henry at home with his retirement pal “Charlie.”
You can do this on your own
The investment strategies do not take much time. The VA’s are automatic while in the market and it’s easy when VectorVest calls out - just an email to the people I refer to you. The other strategies with VectorVest for the top ten VST stocks and Powershare ETF’s are easy to do, which should take about 1 hour each month. When you’re out you just sell the stocks and put the money in the EverBank money market account. When you’re in the market you simply buy the top ten stocks and Power Shares ETF which takes about one hour. Rebalancing of the top ten is only done at the end of each month if you’re in the market. Updating the financial plan takes about 30 minutes. I spend less than 4+ hours on the mechanics of the financial plan each month. Because financial planning is a hobby for me, I spend more time reading and searching for improvements in the financial plan that you would not have to do - as they will be shared with you on this website.
I plan to update this website at least monthly. I can also help if you have questions. You can email me any time you want at roymeredie@aol.com. If the email does not work I will be glad to call you if that’s the only way we can get an answer to the questions you have. Email me with your questions and phone number and I will call you if needed. I do not sell anything as I am retired.