Sunday, August 30, 2015

The High Cost of Eating in Retirement

I think it is pretty obvious to most people the need for having a pretty nice-sized pile of money saved up (and hopefully still growing) if they are ever going to be able to stop working and retire some day. But a lot of people don't even have the slightest clue as to how big that pile of money will have
to be to support their lifestyle in retirement - much less how they are going to accumulate all that money by the time they want to retire. If this describes you in any way then you may want to check out one of my previous posts for an easy way to calculate your financial independence number.

So, just to make things clear, everyone in retirement has a lifestyle, it is just that some of those people do not have a lifestyle that they enjoy. And I'm sure you would probably agree that a retirement lifestyle where you didn't take into account the expense of eating will not be all that enjoyable. So, let's say that you have 20 years until retirement. How much is it going to cost you to eat in retirement?

Remember people are living longer and longer these days and we don't want to outlive our money, so let's at least plan for living 25 years in retirement. Twenty-five years, that means that you will be in retirement for 9,125 days. And, of course we want to plan to have at least 3 meals a day in retirement. Well, if that is the case, then that is going to be 27,375 meals that you will be eating over that 25 year period.

Now, let's say that in today's money each meal is going to cost around $5.00. But, of course, we are not retiring today, so we need to know what the meals are going to cost 20 years from now. That means we need to take into account the dreaded "i-word" - inflation. If we take into account 3.5% inflation, in twenty years you are going to actually need to have $10.00 in order to have the same buying power that $5.00 has today.

After taking all of that into consideration, you are going to need at least $273,750 in retirement just for food - and that is worst-case-scenario - if you plan to only eat $5.00 value meals! So when you are putting together your retirement plan, don't forget to plan for food too.

I'm so excited to share this information with you. If you have enjoyed the information or feel that it would benefit someone else, please share it. If you have any comments, please post them below, otherwise, feel free to contact me.

Sunday, August 23, 2015

The 6 Emotional Enemies Inside Your Mind
Written by Jim Rohn

Don’t become a victim of yourself. Forget about the thief waiting in the alley—what about the thief in your mind?

What can destroy our ambitions, our fortunes, our relationships—our lives? The enemies lurking inside us, the ones we face from within, the ones we’ve got to destroy before they destroy us. There are five we must conquer:

1. Fear

We are not born with courage, but neither are we born with fear. Maybe some of our fears are brought on by our own experiences, by what someone has told us, by what we’ve read and heard about. Some fears are valid, like walking alone in a bad part of town at 2 o’clock in the morning. But once we learn to avoid that situation, we won’t need to live in fear of it.

2. Indifference

What a tragic disease indifference is. Some will say, “Ho-hum, let it slide. I’ll just drift along.” But here’s one problem with drifting: We can’t drift our way to the top of the mountain.

3. Indecision

Indecision is the thief of opportunity and enterprise. It will steal our chances for a better future. We have to take a sword to this enemy.

4. Doubt

Sure, there’s room for healthy skepticism. We can’t believe everything. But we also can’t let doubt take over. Many of us doubt the past, doubt the future, doubt each other, doubt the government, doubt the possibilities and doubt the opportunities. Worst of all, we doubt ourselves. Doubt will destroy our lives and our chances of success. It will empty both our bank accounts and our hearts. Doubt is an enemy. Go after it. Get rid of it.

5. Worry

We’ve all got to worry some—but we can’t let it conquer us. Instead, let it alarm us. Worry can be useful. If we step off the curb in New York City and a taxi is coming, we’ve got to worry. But we can’t let worry loose like a mad dog that drives us into a small corner. Here’s what we’ve got to do with our worries: Drive them into a small corner. Whatever is out to get us, we’ve got to get it. Whatever is pushing on us, we’ve got to push back.

6. Timidity

Over-caution is the timid approach to life. Timidity is not a virtue (unlike humility); in fact, it can be an illness. If we let it go, it’ll conquer us. If we’re timid, we won’t get promoted, we won’t advance and grow and become powerful. We’ve got to avoid over-caution.

So, we must battle with the enemy, battle with fears, build our courage to fight what’s holding us back, what’s keeping us from our goals and dreams. We have to be courageous in our lives and in our pursuit of the things we want and the people we want to become.

Jim Rohn, America's Foremost Business Philosopher, reprinted with permission from Jim Rohn International © 2015. As a world-renowned author and success expert, Jim Rohn touched millions of lives during his 46-year career as a motivational speaker and messenger of positive life change. For more information on Jim and his popular personal achievement resources or to subscribe to the weekly Jim Rohn Newsletter, visit