The Social Security Administration Reported That Women Outlive Men
This Got Me Thinking…
Does Jessica Know What Our Retirement Accounts Consist Of?
I figured women outlived men. Men are risk-takers and most men would agree that this risk is fun! I recall my brief thought of being a bull-rider at the age of 23. That idea lasted for a split second and am grateful it did.
There are the exceptions. My grandfather is approaching 96 years old while my grandmother passed away almost 35 years ago.
According to the Social Security Administration, Jessica is expected to outlive me. This motivated me to bring her up to speed on our net worth, asset allocation model, taxes, IRA to Roth IRA conversions, etc.
I typically handle the finances but needed to immerse Jess in investment terminology and options. Finances are typically seen as a men’s world and the reality is they need to be managed by both spouses.
As a Result I Developed a Cheat Sheet To Guide Her
I have put together a guide that I have used to grow our retirement account. This includes an overview of different types of retirement accounts, our portfolio and asset allocation model.
The idea of making more money in retirement than in our working years is a reality and not a dream. It’s exciting to know that we have changed our family legacy! My daughters will not have to go into debt to pursue their college education or worry about retirement.
And more importantly, Jess will have been educated on retirement.
I Challenge You To Make Retirement a Reality
I share this cheat sheet not to boast but to encourage and motivate you to start or evaluate your retirement strategy. Trust me, retirement will sneak up on you and you’ll need to be ready.
Growing up in low-income home I believed retirement and investments were for a select people. That is no longer my mentality and hope you believe the same.
It gets easier the more you investing you do. You develop your financial muscles 💪🏽. Investing has been part of our strategy for over 14 years. There is no reason that you should not be able to retire.
Retirement is for all. It does not discriminate or is it exclusive to one social economic group.
How A Masters Degree in Business Did Not Provide the Financial Guidance I Needed
While I am proud of having received an MBA degree I was ashamed that my finances were in rubbles. The degree taught me how to do great research as many papers were written. And the personal finances class I might have missed at some time. I had to learn to manage my personal finances on my own and at a high expense.
This tagline has brought some healthy conversations. I believe that anyone can be a financial disruptor. A disruptor is defined as a person that prevents something, especially a system from continuing as usual.
That usual was our finances. It wasn’t until we started budgeting, eliminating debt, and investing that we disrupted our finances. Action was taken and Financials were Disrupted. I say we because it is a team effort. Jess, myself, and the kiddos.
Ready to See What We Are Doing For Retirement
The available guide details our portfolio and asset allocation model. The model is not unique to our financial situation and can be mimicked. Most asset models can be duplicated as majority of investors place their funds in large capital, small capital, international funds, and stocks. These terms are defined in the reading.
Feeling motivated? You can sign up to receive the FREE guide.
I am not a licensed professional. I do play one at the Gallegos’ residence and have done well. Those are the words of my financial advisor. You can expect the material you read to be educational, informative, and entertaining.