Find Confidence In Your Retirement With Amida Wealth
At Amida Wealth our fivefold elements of wealth are health, career, finances, relationships, and personal growth. Living in wealth is all about experiencing and fulfilling our abundance in this life. As a result, it is important that we have control over our finances and begin to allocate towards our future today. Regardless of what retirement means to you, go into it with confidence. In order to do this, understand the financial and also emotional aspects of what it means to retire. If you are from an older generation, you will find that retirement has a different meaning than those in the younger generation. Earlier generations thought it meant to sit on a porch enjoying life at a slower pace. Now we know it is about living this amazing life of significance not having to worry about money. The younger generation call this financial independence.
For the retirement of today, we allocate and learn how to invest towards our future so that we can take advantage of the power of compounding (meaning earning money on your money over time). Additionally, we take taxes into consideration today and into the future, when we begin a withdrawal strategy or having our savings begin to produce a paycheck for us. In other words, it is all about living your best life, your second time around. A seamless transition into retirement is about the energy that is put forth today. Are you saving? Where are you allocating money? Who is supporting you? And most importantly, are you working with a professional who can see things that perhaps you are not yet experienced in or know off? In other words, Amida Wealth is here for you.
4 Things About Retirement That May Surprise You:
- Many consider the standard age to retire is 65. One of the key influencers in arriving at that age was Germany, which initially set its age at 70 and then lowered it to age 65.
- The 65-and-older population is one of the fastest growing demographics in the United States. In 2019, there were 54.1 million Americans aged 65 and older. That number is expected to increase to 80.8 million by 2040.
- Ernest Ackerman was the first person to receive a Social Security benefit. In March 1937, the Cleveland streetcar motorman received a one-time, lump-sum payment of 17¢. Ackerman worked one day under Social Security. He earned $5 for the day and paid a nickel in payroll taxes. His lump-sum payout was equal to 3.5% of his wages.
- Seventy-seven percent of retirees say they are confident about having enough money to live comfortably throughout their retirement years.
Additionally, there are stages in retirement. These include: pre-retirement, early retirement, mid-retirement, and late retirement. The first 6 months are like a honeymoon phase. Everything feels new and exciting– you prepare yourself for your second best lived life! After year 1 or 2 reality sets in. You begin to create a new flow. In the last phase you begin to see that your brain and body don’t function at the same pace. You may begin to feel less than, like you are no longer relevant in this society. This is when we start questioning our purpose. It’s important to not only take care of ensuring you have the financial means to have your regular job check replaced but that your mind is also ready for it. You want to plan what retirement will look like. What purpose will you have? What will get you up each morning?
Confidence In Your Retirement
We encourage you to feel a sense of accomplishment and confidence as you consider new possibilities for your retirement. Throughout this process, we aware of the stages that occur. Prepare your finances and your mind for the changes ahead. Establish new intentions and discover a new and exciting purpose so that you can truly experience your second best lived life. With proper intention, this is a seamless and beautiful process. In other words, take steps toward a secure retirement path with your advisor or an Amida Wealth advisor. We show you how to optimize your finances and plan for a secure future.
Amida Wealth Family Conversations
At your next family or friends gathering, encourage the topic of retirement. Have your family and friends considered what their retirement will look like? Where have they gotten their education on this topic? Ask questions like, Have you made arrangements for health care? Are you comfortable with your investment decisions? Expand on the phases of retirement, who will take care of me when I no longer can? Do I have the means for it if I need to hire outside help? Additionally, share this article with friends so they know they are not alone in this matter. Amida advisors are always here to encourage a seamless transition, and more education on this topic! We are one phone call or email away.
In conclusion, living your next best life is the retirement of today. This is why we encourage you to start planning for your future in the now. At Amida Wealth we are here to provide a seamless transition for you and the ones that you love. Retirement is a beautiful transition in life that requires knowledge, insight, and support. In other words, this is not a complicated process, it involves simply a greater commitment towards your bright and abundant future ahead. We would love to work with you, and help you establish the life of your financial dreams!