Retirement Secret

Retirement secret by Bill Roberts, the Baby Boomer Retirement Planner

A successful retirement depends on one thing – having enough money each month to pay for everything you need to enjoy your golden years.

The first step in Baby Boomer Retirement Planning is to assess your needs at retirement.

The second step is to figure out how to get it.

One thing is for sure, unless you are among the very few that has enough put away to generate your monthly needs, you will probably have to work until you die.

My whole focus is to develop strategies to accomplish this. My strategies include ways to grow your nest egg, ways to develop additional streams of income, and ways to reduce your cash needs at retirement.

The first thing you must realize is that retirement costs more than working. Think about it this way, when you are working you don’t have a lot of time to spend money, but when you retire every day is Saturday.

So if it costs you $100,000.00 a year to get by when you are still working, it will cost you considerably more after you retire.

Ninety percent of Baby Boomers have between fifty and one hundred thousand dollars (according to Fidelity, the world’s largest retirement fund custodian). This is probably enough to last one or two years, even with your social security.

What are you going to do about this? If you are like most of us, you are going to continue working. If that doesn’t particularly grab you, you might want to consider trying some of my strategies.

Just continuing to work isn’t going to solve anything. If you have an average-sized nest egg, you will need to double it four or more times to have enough to generate an adequate monthly income. At historical rates of return (about 8%) that is going to take you at least another thirty years. And even then you probably won’t have enough because inflation will have taken away most of your purchasing power. You’ll be lucky to have broken even. And to add insult to injury, you’ll have to pay taxes on the inflated dollars as if you had actually made a gain.

My three thronged approach includes investing for gains greater than 8% per year, earning as much of it as possible in a tax-free Roth account, reducing your cash needs at retirement, and developing multiple streams of income. If you can do these three things you should be able to retire in ten or twelve years.

I have written extensively about setting up your own self-directed Roth retirement plan (IRA, SEP. or 401(k)) or even a defined benefit plan.

I have written about Land Banking, land development, land entitlement, and tree management for multiplying your nest egg, but today I want to approach the problem from a different angle.

If you can add more income streams, then you won’t need as much coming from your retirement accounts. If you can get these various income streams to total $10,000.00 or more per month, maybe you’ll have enough with your social security to meet your needs.

What are these various income streams?

  • Rental Income
  • Royalties
  • Income from a small business
  • Residual income from network marketing

There are also Bonds, Dividends, and Annuities. I am not a fan of any of these. The Return on Investment (ROI) is insufficient to actually make any REAL gains. Most of these barely keep up with inflation.

If you think you might need an additional source of income, you can explore my work from home site. You will find answers to questions you didn’t even know you had.

I have my multiple sources of income. Do you?

Get the full story here:  Baby Boomer Retirement Planning

Retirement Secret by Bill Roberts 619-244-4610






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Finding Land For Your Self-Directed IRA

How to Find Land By Bill Roberts

Man has always had the urge to find new lands. It is what led to the discovery of the New World. It is what pushed us west from the Eastern Seaboard.

But just because all the land has been discovered doesn’t mean that our thirst for new lands has been quenched. On the contrary, we seem even more inspired to find a piece of land that satisfies certain hungers within.

I’m one of those land pioneers. I like nothing more than going out into the sticks looking for that elusive parcel which will satisfy a hunger deep within me.

Let me first say that I do this as part of my job. I help people make retirement plans. I utilize land to maximize their returns on their retirement funds. See my post on Land Banking for a fuller explanation.

So how do I go about finding those special parcels? In the first place I believe that all land is good. “I never met a lot I didn’t like.”

But we want something special for our retirement account. We are planning on retiring in ten years, so we want something that will appreciate significantly in that time frame.

For a long term hold we could buy marginal land. It will appreciate, but probably not enough in the next ten years to work for us. We need something that will grow significantly over the next ten years. We need good land.

Finding Good Land

OK, how do we do that? Well, I’ll tell you what I do. I read everything I can get my hands on regarding TRENDS in the real estate market. I want to get there first before the land rush begins.

Then I drive around my target area. I get a “feel” for how development is going to happen. It ain’t rocket science but it is scientific.

Growth “happens” along arteries (roads, rivers, etc.) and near population centers, so I’m particularly interested in land in close proximity to these arteries and centers.

A Word About Prices

I have no preconceived ideas about value. Once I find an area that I’m interested in I begin to “educate” myself on land values there. Remember, real estate prices are very subjective. It is a matter of what everybody thinks rather than some absolute yardstick.

The local people already “know” what I have just discovered. This area is going to grow. They have factored that in to their prices. I need to determine if I can live with these prices. I’m anticipating growth. After that growth the land will have a certain value (based on what it can be used for and what the NOI will be for that use). I will pay a bit of a premium for good land but I’m not going to give them all my profits from owning this land.

Avoid Grief

Generally speaking, I will pay the asking price if it is reasonable. If it’s not reasonable I may try one offer at the right price, but if it is rejected or countered I move on. I don’t want to deal with unreasonable people. It just leads to grief.

If you are ready to incorporate land into your self-directed IRA retirement plan or if you would like more information on getting started in land investment for retirement planning or setting up your self-directed Roth IRA, call Bill Roberts (619) 244-4610.

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