Putting Your Retirement Shield in Place

ABOUT THIS EPISODE

Retirement planning can be complex. It can also be made very simple. In this episode you'll know the primary pieces you need for a safe and secure retirement. Protect your family and enjoy the future by putting your Retirement Shield in place.

And welcome to the putting your retirement interest for podcast with financial expert and number one Amazon bestselling author Robert Cannon. Each episode features helpful, inside practical tips and reliable strategies to help make your retirement as enjoyable as possible. For the next few minutes, enjoyed listening as co host Bethanie Bilson talks with Robert Cannon about putting your retirement interests for well, once again I have joined by Robert Cannon. Robert is the author of putting your retirement interests first. It's a prioritized approach to protect your future and turn your dreams into a reality. And Robert, this is the last chapter of your book. It's called the retirement shields really going over everything that we've covered in this book. And you know, it's cool to hear you talk to us about different clients that you've worked with and how you're passionate about making sure that they reach their goals and reach...

...their dreams, because everybody is different and in a different situation financially, and so I love hearing how the retirement shield plan can really be customized to each person as they plan for the future. Is it ever too early or too late to start kind of evaluating retirement. There's never too earlier too late. It's about the mental aspect of it. So I'll tell you example. I had a woman. She was, at the time she started with me, twenty eight or twenty nine. I forgot. She's around. She was late. Twenty is about to be dirty. I remember that. So she came to me, still living with her parents. She wanted to buy a place, a condominium here in Brooklyn. So we orchestrate a number one. She had a little money safe, not a lot of money saved, and I said, you know what, we're going to figure out the best plan for...

...you. She didn't make a lot of money too. She might hate to say that because I know some people in the Midwest and now South Dakom and yell at me, but she may like eighty thousand year, yeah, but he thousand over here right buying a tound for four hundred thousand dollars and you know livings a little digre. What living is different. So it was a lot of money and she said, you know, Robert, is all my money. I don't know who'd have turned to. You're the only person I trust. You know, I came from referral and she met me and we head it off. So we set up a plan. We said of a plan for her. I said, listen, this is what we're going to do. We're going to acquire this property, we're going to get you out of your parents house. She had a little savings. We're going to secure those savings. She got sold some bad investment, as horrible story some of our friends. But you know, we solved that problem, allowed her to grow because it was some fees that she was paying that, at her age, was ridiculous. And then we said of her up with the savings plant.

Now let's fast forward. Okay, five years, so she didn't quite hit thirty five, yet she was able to have over a million dollar net worth. WHOA. So when you start early, yeah, you followed when and you have someone who's helping you. And Okay, first let me print preface this. She was very frugal. She listened one hundred percent. So she was a very compliant client. Most people are not. I tell most people, okay, we're going to say twenty percent of your salary and then at the end of the year, how much did you say? Well, we say five. We wanted to go on vacation. We wanted to do this. Okay, you're not compliant, but she was perfect everything I told her to do. Over a million dollars net worth before thirty five years old.

That it's crazy. So so if you start early and your frugal, and I don't want to say only frugal, because she was frugal. But guess what, she bought a Condo. Okay, she still lived right, I mean she had a trainer, you know, whatever. She still had her life, but million dollar net worth. So that's a great story. I love telling US story. And she was I remember I went to visit her in Manhattan. I took the train and before she said yes you, she just gave me like this big hug and just said, I'm trusting you, please, you know, any thing for me, and I told her not to work so good. Yeah, it was really, really nice. Well, she's heard young and get it getting her start. It was nice also. Yeah, and you brought up a good point too, that living frugally does not have to mean that you, you know, live on Raman for the rest of your life, like that might be what it looks like...

...to find it on your situation for a little bit but that's not forever. Living frugally does not have to be something that's a huge sacrifice. It's little decisions that really do add up over the course of time. Absolutely and she was able to stick to the plan and that helped her. And of course, you know, obviously we had a great market and the house appreciate it like you can't imagine. So, you know, she has a nice nice situations that happen. You know, catapulted over a million dollars, but you know what, it happened. Yeah, so you know, the reality is she was able to accomplish I'm very proud of her. So, as you've been doing this for a long time and talking with different clients, what would you say is the most rewarding part of your job, something that you enjoyed most? You know, is to me it's a very noble profession and I feel that I help people through their lives, all parts of their life. I mean with her, she ended up getting married. That was a situation...

...that she came to me protecting her assets. That was a situation. I mean. So there's I'm basically following you for your entire life. So I'm your visor and I love that aspect of the business. I love that personal one on one that I have with you because we grow together and when things come up, like you know, we talked to them about covid nineteen. You know your the economy being shut down. We're working it together. You know, we're working with you, which is really important. So I feel that this is a normal profession that I really enjoy. I feel that this is what I'm you know, everyone has a gift. M Hear me saying, you know, that's not my gift. So right, hear people play music, I'm like, Oh my God, you're amazing. You know, that's their gift. Yeah, and gift I feel for this world is basically helping people and making the complicated not complicated, in navigating them through, you know, the difficult world of finance. You know, that's my gift that...

I provide to the world. And then so true what you just said is, you know, making the the complicated not complicated, because finances can be very intimidating a lot of people, I mean myself included. Numbers are not my thing. Math has never been my thing, and so I think that's something that I've had to move past. Of like, finances are a reality. I have to deal with it. But I think it's so cool that you're kind of being that Voice of encouragement and that voice of just hope for a lot of people, being able to come alongside them and guide them and make it not so scary and not so intimidating. I think that's really cool that you're able to do that. Yeah, absolutely. You know, the fact that I've been doing this for dirty years to me is still amazing to me. Is like unbelievable dirty years in his business. But I love when I see someone go from zero to a million like her. Yeah, or older person right that will go from WHO's sixty five years old going to retirement...

...and be able to travel the world, be able to live their life and and really enjoy the fruits today labor and knowing that they're protected, you know, if something happens in the market or the pandemic hits or whatever it is, they're getting their income and they know they're secure. So I just love that aspect and people, most people are very appreciative, you know. So we were joking before we started recording that I've got a major baby face. I know I do. I promise I'm not in high school, but my husband and I are both in our mid s. So if you could give us kind of one piece of advice going into retirement and just a future in general, what would that that piece of advice be? Start now, start investing now, because the power of compound interest is amazing. So you need to start now and, like I told you the story with the young lady,...

...every year you have a certain amount of money that you're saving and then we come up with a plan for you and you're going to see, from you know, s to s to s to s, what your account will be. It's pretty amazing. You know, I get you to a million dollars and five years, but guess what? Ten, fifteen to you know, whatever it is, you're going to get there with the right plan and in the right amount of savings. So just Save, save, and invest. Well, Robert, I so appreciate just that advice and all that you've shared over the past few times that we've spoken and just your wisdom and your expertise. I really appreciate it and you've got plenty more advice than expertise in your book. It's by Robert Cannon. You can pick up a copy on Amazon it's called putting your retirement interests first, a prioritized approach to protect your future and turn your dreams into a reality. Robert, thank you so much...

...for speaking with me. I appreciate it. I appreciate you. Thank you. Thanks for listening to the putting your retirement interests first podcast with financial expert and number one Amazon best selling author Robert Cannon. To request a copy of Robert's best selling book or to have a conversation with him about your financial future, connect with Robert through his website, cannon wealth solutionscom.

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