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Missed Fortune – The Power of Reinventing Yourself

Posted on | September 9, 2013

Breaking Free From Life’s Ruts

One essential quality that you’ll find in the life of every true achiever and entrepreneur is the willingness to redefine themselves when necessary. Whether we’re talking about your business or even your own life, it’s very easy to become stuck in a rut.

Sometimes that rut arises from habit, sometimes circumstances change and we must adapt to them. On average, a person who is moving forward needs to redefine themselves roughly every 7 years or so.

When we keep doing what we’ve always done, we’re going to keep getting what we’ve always gotten. If we allow ourselves to continue following strategies that are no longer optimal, it can be very costly in the long run.

A good example of this is the tendency for many people to continue to put their money into IRAs and 401(k)s as a method of saving for retirement.

If you’ve been listening to the media lately, there has been a lot of talk about an imminent crash. Whether you think we’re on the verge of a crash similar to the ones in 2001 or 2008, there are some things you need to consider.

During the last couple of crashes, many people lost 30-40 percent of their retirement savings when the market went down. For a lot of folks, that means that they have recovered maybe 5% above where they were 12 years ago. That’s an awful lot of time spent making up lost ground.

The bottom line is that circumstances changed for many people due to market volatility and a reexamination of the old strategies is necessary in order to adapt and to prosper.

The people who learned and utilized more sound strategies like we teach at Missed Fortune, doubled or tripled their money over this same time period. What worked for them will work for you as well.

Taking Worry Out of the Equation

Whether there is an impending crash or not, those who have adapted to better strategies won’t have to worry. Here are a few reasons why.

The reason they can rest easy is that they have not placed their money directly at risk in the market.

Instead, they’ve positioned their money so that should the market go down, like it did in 1987, 2001, and 2008, they won’t lose a dime of their savings. Let’s be clear, during those downturns they may not have made a lot of money, but they didn’t lose 30-40% of their retirement nest egg like so many did. Their principal was protected.

And when the markets did move upward once again, these folks enjoyed immediate participation in the growth. Best of all, their money grew tax-free and will remain tax-free from here on out.

During the so-called “lost decade” where many people saw a third or more of their retirement savings vanish, the ones who understood and applied better principles managed to double and, in some cases, triple their money.

When you understand indexing as a strategy, you don’t have to worry if a crash is imminent because you will not lose even if the economy does tank.

Will Rogers used to say that people get more caught up about the return of their money rather than the return on their money when things get bad. Developing a proper frame of reference boils down to having the right strategy in place.

An indexing strategy that allows you to safely ride out market volatility without losing money, yet also allows you to participate in market growth during the good years, is a surefire recipe for peace of mind.

Once you have liquid assets that are safely earning a predictable rate of return that is tax-free, you’re well on your way to a brighter future.

If you’re finding yourself in a rut on how to best save for your retirement, it may be time to reinvent yourself and to adapt in order to get the better results you desire.

Take the first step by contacting a wealth architect today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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