Financial Levels During Retirement Period
Posted by daveaguila on March 28, 2007
There are 4 financial levels during our retirement period. These are (1) Financial Misery, (2) Financial Security, (3) Financial Freedom and last but definitely not the least (4) Financial Abundance.
It’s a fact that one of these four financial levels will be our ‘personal financial level’. So what do you think will be yours? Before assuming what financial level will be yours during your retirement period, let me first briefly expound each levels.
Financial Misery is the simplest level. This is the level where you don’t have any money to provide for your basic needs. We achieve this by doing nothing NOW. I bet you US$1 Million that you’ll have this level on your retirement period by doing nothing today. You either just die because of the lack of money or suffer the humiliation of begging to your loved ones or worse other people just to survive. This is the hardest level but the easiest to achieve.
Financial Security is where you have enough money to provide for your basic needs. There are a lot of ways to achieve this. But to surely achieve this, you need to invest in investment vehicles that gives you an average return for your investment. Examples are Insurance Products, Index Funds, Mutual Funds, etc. A little bit of know-how about the investing is needed in order to achieve this financial level.
Financial Freedom is where you have enough money to live the lifestyle of your dreams. Again, just like the above level, there are a lot of ways to achieve this. But the surest way to achieve it is to invest in investment vehicles that gives an above average return for your investment. A deeper knowledge about business and investing is required in order to achieve this level.
Financial Abundance is where you have almost unlimited supply of money. Not only can you live the lifestyle of your dream but you could also touch the lives of as many people as you want. You’ll be able to make a positive difference in the world by using your money in helping other people. In order to achieve this, you need to have the highest return on your investment. A lot of know-how about business and investing is needed in order to achieve this financial level. This is the hardest level to achieve but definitely the most rewarding financial level.
There you have it, the four financial levels during our retirement period. So which level would you like to have? It’s up to you! Just remember that whatever you do today, will definitely be your life tomorrow. So, if you just do nothing today, don’t expect to become financially abundant in the future…
