We all have things in our life that, at best, don't serve us. Many of these things actually detract from the quality and satisfaction of our lives. What we’ve found to be helpful is to create a toleration list.
We've been talking a lot lately about having a Lifestyle Business and how you can earn additional income by monetizing your passion, your knowledge and your experience.
But I've had a few conversations with friends and subscribers who tell me they aren't sure what I mean by a Lifestyle Business (LB). So allow me to explain.
Yes, you really can retire in style—with little or no savings.
We all know that social security isn't going to be enough for us to comfortably retire. It was never meant to be. It was meant as a supplement.
And we all know that we should have been putting money away since the beginning of our careers to make it possible to retire in style.
But most Baby Boomers simply haven't. Or if they did save some, have found it worth much less than they thought it would be.
According to a survey by the Employee Benefit Research Institute, more than half of all workers (56%) say they have less than $25,000 in savings.
And the Deloitte Center for Financial Services found that 58% of U.S. workers don’t have a retirement plan.
The vast majority of Boomers either started to invest late or never got started at all. And now they're looking at having only a few years left and not being able to have compound interest working in their favor.