Is Your Retirement Plan Truly Golden?

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One of the tradeoffs of having a home Internet business is giving up any hope of a so-called Golden Parachute.

Of course, the Golden Parachute was the moniker given to a cash benefits package given to employees who were forced out of a job due to circumstances they weren’t considered liable for.

It’s the ultimate way to retire early with the security of money in the bank.

As a home Internet business owner, you can guarantee your own golden retirement, however, if you play it smart.

Most Americans Woefully Unprepared for Retirement

According to Market Watch, a third of pre-retirement individuals, including those between the ages of 55 and 64, have zero money saved for retirement. And a quarter of them haven’t even planned at all for retirement.

Hopefully you don’t fall into either one of those categories.

But even if you do, there’s a way to change all that.

Change the Way You View Your Golden Years

On the small island of Okinawa, Japan, there is no such thing as retirement.

They have more citizens aged over 100 years old than anywhere else in the world. You might visit there and find a 95-year-old man working happily in his garden or a 97 year old woman teaching young women how to cook.

Maybe it’s time you question the wisdom of the traditional notion of retirement as sitting around doing nothing.

Your golden years should be filled with happiness and the luxury of time to do the things you want to do, right?

If your retirement was all about watching TV every night, you could start that right now.

Instead of thinking about your retirement years in terms of not working, think about it in terms of what kind of work you would rather be doing. Then take steps now, since you’re already your own boss, to fashion work for yourself that you’ll enjoy well into your old age.

Your work as an old man or woman can actually help to keep you young, as it does for the residents of Okinawa.

Start Today to Make up for Yesterday

As the following article shows, there are plenty of financial planning for retirement options for home Internet business owners aged in their 40s, 50s and 60s.

No matter where you are in your path to retirement, it’s not too late to change where you will end up. You can start today to make up for yesterday.

Here are some ideas to talk to your financial advisor about:

Real estate Investment

Depending on your situation and the real estate climate where you live, real estate might provide you with some rental income after you retire.

You could invest in a commercial or residential property today, rent it out and either continue to rent it or sell it and take the gains after you retire.

Reverse mortgage

Financial advisors have mixed feelings about this fairly new concept. Make sure you research it thoroughly, and ensure that you completely understand it before jumping in.

Just like you took the reins when you opened your home Internet business; take control of your retirement future, starting now.

Photo credit: Image courtesy of anankkml at FreeDigitalPhotos.net

About the Author: As a writer and a small business owner, Kate Supino understands the unique financial challenges that self-employed people have.

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