My new book Retire Inspired: It’s Not an Age; It’s a Financial Number is on bookstore shelves! Because I’m so passionate about the information and can’t wait for you to radically improve your retirement future, I want to share some of the content early. The excerpt below is taken from Chapter 1, and it will give you the basic steps that you need to keep doing every day so you can have an inspired retirement:
I’m a big sports guy, so when I hear the word fundamentals, I think of the things you focus on every day, every hour, and every practice as you strive for excellence. Here are the Five Fundamentals that can help you stay on track as you work toward retiring inspired:
Fundamental #1: Dreaming
Dreaming is an action. You must be able to see your retirement dreams clearly and you need to own them. Dreaming is the process of discovering (or recovering) the things you have always wanted to do. It is the want-tos of your life. You need to remind yourself of your dreams every day.
Related: How to Define Your Retirement Dreams
Fundamental #2: Planning
Planning is the strategic process of figuring out how to achieve your goals. That means you and your spouse need to have plenty of discussion. If you are single, find an accountability partner who can hold your feet to the fire. Planning is the process where you connect your actions to your goals. Let the plan be your GPS to get you to your retirement dreams in style. A huge part of that plan will be your commitment to budgeting.
Fundamental #3: Execution
Execution means taking the right steps at the right time. It involves investing, budgeting, avoiding debt, working with your dream team, communicating with your family, maintaining healthy relationships, and, yes, even continuing to dream (because your dream will evolve). Your actions matter and focused attention brings results.
Fundamental #4: Commitment
Commitment means embracing the sacrifices necessary to get you to your dream. It is the pledge to your spouse, your family, your community, your children, and your grandchildren (whom you may have not even met yet)! Commitment is the understanding that your health, wealth, work, and relationships are a blessing and that you have to embrace the responsibility of leaving a legacy.
Fundamental #5: Vigilance
Vigilance means knowing that stupid is always lurking around the corner. It’s watching out for people trying to get you to invest in a risky, once-in-a-lifetime opportunity that will most likely leave you broke and embarrassed. Vigilance is a mindset that you are going to protect your dream and your legacy. It means ignoring the Joneses and the temptation to look rich (even when you’re not). It means that you will protect your retirement dreams and that you will stay focused on preserving the blessings of the legacy that you will leave.
You can view every aspect of your retirement through the lens of these Five Fundamentals. If you continue to stay on top of those five things, you’ll be way ahead of the game.