Part 2: Know What Money You Can Count On

If you haven’t started taking inventory of your assets by age 50 then you better start ASAP. You are going to have to shine a light on what you have so you can find out how much you need to support yourself in retirement. Most people do not have a clear cut idea of how much money they have. That means it is hard for people to figure out how much money they can count on when they no longer work.
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I met one woman, who was out of work for two years and did not know that she had almost $4,000 in her 401k. Finding out what part of today’s money can go toward retirement simply means adding up the value of all your current assets. Assets are things that can be converted to cash.

These things include;

1. Assets that is very liquid such as cash, investments, savings bonds, CDs, Mutual Funds, and Whole Life Insurance policies.    
2. Assets that is not so liquid such as your house, car, jewelry, and art.

You do not want to count emergency money, children’s college money, or vacation money. You want to count money that you do not want to touch for at least ten years. Women face the very real possibility of spending part of their retirement years without the support of a husband. The loss of a spouse can sometime mean the loss or reduction of benefits that can place spouses in financial jeopardy.  Because of this spouses will need to focus on their financial resources as a single person as well as half of a couple. You must figure out what happens to your Social Security and to retirement benefits if your spouse dies or you divorce. Know what assets you can count on.

Check Social Security benefits documents, retirement plan documents, and Wills. Wills are important but they may not provide the protection desired. Depending on the way assets are titled or the terms of a Will, the money that a spouse believe they can count on may not be passed to the surviving spouse.
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How much is your home worth? In some cases, a reverse mortgage may be the answer to keeping your home while living off the equity.  

If you subtract how much you own on credit cards, Lines of Credit, car loans, and home loans from your total assets, you will have your Net Worth.  That is how much you have to spend today on your retirement.

A Special Note for all my reader’s around the world!  

Hi my loyal readers around the world. I just finished making my final plans of my life. I will be retiring in a few short years and moving into my luxury retirement home. I will spend most of my time getting my seven year old grandson ready for the 2028 Olympics. I have no idea what my younger grandson is going to do. As of now, I would say it has something to do with electrical engineering because at 1 years old, he knew how to operate an IPad. But whatever it is, I will be around to lend assistance to his education.


My plans also involves my readers. I am starting an online stock club design to give my loyal readers as much as one million dollars, maybe more depending on when you start my plans. That money will be to remember me by.


Please read the blog below and follow my instructions if you want a chance to get one million dollars.

http://bondinvestments.blogspot.com/2012/06/how-would-you-like-to-have-over-one.html

The younger you are; 35 and below, the greater the chance of getting over one million dollars. If you are starting at 60 years old, chances are you will only make it to $100,000.



I started out at age 23 and spent a lot of time laid off and giving money away to my children for cars. I bought 3 homes. One home was paid off in full. The other I bought in a partnership paid in cash. All my cars since 1971 were the current year and I have not had a car note since 1983. I even gave two girlfriends a car each. That is why I don’t have a million dollars today. But if you become one of my “Greedy Friends” I am sure with my instructions, you can get that million.