forfamily.blogg.se - Skyrim the choice is yours

The big question to ask yourself is this – who would you be at the end of your career. The choice is yours and this choice you are already making today. And the second choice is to transition from this disappearing income to passive income that is irregular, unstable, and lesser than what you earn today. The first choice is to transition from this disappearing income to passive income that is of equal size, stability, and regularity. Before this happens, you have two choices to make. However, this stable, regular, and consistent income will disappear at retirement. Thus, the main reason why you are an asset today is that you earn a stable income that can meet your needs and the needs of other people. And if your income were smaller than your goals you would be a liability. If your income were irregular, you would be an asset today and a liability tomorrow. You are also an asset today because you can meet the needs of other people. An income that is stable, consistent, and the right size for your needs and goals. You are an asset today because you earn a regular income.

Third, you must know what to do to maintain your asset status in retirement?.

Second, you must understand what can make you a liability Tomorrow, and.

First, you must understand what makes you an asset today.

The second is your employer plan and the third is your plan. Only three plans will determine your financial status in retirement. Without help, the transition from asset to liability is imminent for many and here is why. Yet being an asset is the only way to maintain your financial dignity, relevance, and respect in retirement. Research shows that 80% of working professionals do not retain their asset status meaning that more people will become liabilities in retirement than Assets. The challenge is maintaining your asset status in retirement. While it is easy to be an asset during your active career life. When you are a liability, you are the problem, and you participate in the initiation or elongation of generational poverty.

And you participate in the initiation or elongation of generational wealth. When you are an asset, you become a problem solver to yourself, family, and community. Liabilities deduct value and create poverty for the beneficiaries of the asset. Assets add value and create wealth for the beneficiaries of the asset. And a liability is a person or tool that produces income that is smaller than the cost of its maintenance.

In the context which we will discuss here, an asset is a person or tool that produces income that is bigger than what is required to maintain it.