You probably hear all the time how Millennials were misled about their prospects in the working world.
But what about GenXers and Baby Boomers today?
The truth is we were all duped.
If you’re a senior corporate executive in your 40’s or 50’s, you probably heard the same story: All you need is a solid education, then make a long-term commitment to a blue chip employer. Next you can steadily grow your income, advance your career, and save up for an easy retirement.
But if you’re reading this email, you already know that was never the case. You need something innovative beyond your corporate salary to make retirement a reality.
Getting Off the Conventional Track
In the No Nest Egg Retirement Plan, I focus on three main areas you can create wealth outside of your day job:
- Real Estate
Capital-intensive and hard to scale, real estate is probably the most risky option out there. You also don’t have the luxury of making safe, long-term investments, because you need money for retirement now, not in 30 years. But if you’re well-read in real estate and wait around for the right opportunity to come up, there are some ways to generate rapid wealth with this strategy.
- Paper Assets
Owning stocks and bonds isn’t what it used to be — they won’t make you wealthy any time soon. Like with real estate, you need to be prepared to make high risk investments if you want to see returns when you need it. If you’re willing to invest in exotic strategies, make sure you’re working with a sound professional.
- Having Your Own Business
This is by far the most promising option out there to help you achieve retirement. Now it’s easier than ever for people to start a business on the side and begin earning money outside of their regular paychecks. What’s more, you can also opt to purchase a pre-existing business to further streamline your benefits.
Getting off the conventional track to boost your retirement savings isn’t easy, but it’s the smartest idea by far. Follow the advice of others who’ve already succeeded at it and you’ll be well on your way to success.