Business Marketing Magazine Summer 2017 Do It Yourself SEO Tips and Tools | Page 30

Investment EF Moody Retirement Planning continued- Inflation and Rate of Return Projections Important Note from the Editor: Having a basic understanding of key retirement issues is essential for any business owner. Many entrepreneurs and small business owners are working so hard on their companies that they neglect one of the prime reasons they started working for themselves in the first place. Your goal is making an immediate profit and then doing something with that money that allows you to actually retire sometime in the future. For some it means passing it on to younger family members and assuming that you will get a percentage of the ongoing income from the business. Most, however, will sell the business and reinvest the proceeds in some sort of retirement fund. The ideal, of course, is to contribute to that retirement fund over time. Here is a dilemma that most people face: All this retirement and financial information sounds like gibberish to people without a financial background. And, for those people, it IS gibberish. HOWEVER, you should read it anyway and watch the free videos that are offered on Dr. Moody’s website. The reason is that over the course of a year you’ll pick up a lot of information, consciously and unconsciously, that will help you avoid being taken advantage of by so-called financial salespeople who call themselves “advisors.” Unfortunately, most of these salespeople/advisors don’t know much about financial products either. By reading these articles and viewing the offered videos, you’ll be able to ask more astute questions of potential advisors. If they can’t answer the questions, then you shouldn’t be dealing with them. So, by generally becoming familiar with the jargon, 30 www.businessmarketingmag.com you give yourself a fighting chance of finding someone really competent to assist you in reaching your long term goals. One final point: If you have any questions that you would like to have answered, please write to Dr. Moody at [email protected] L ast month I started ‘do it yourself’ retirement numbers that commenced with the necessity of a personal budget. While true that all the items necessary for retirement numbers are guesstimates at best when considering a 30 year+ retirement, the budget has to be as concise as possible. “The FED’s quantitative easing fouled up the U.S. economy - then the rest of the world did the same to theirs. Now with China having a rough landing, Japan lowering rates below zero, England possibly leaving the EURO, Russia selling major assets, etc., the FED is now rethinking another rise in interest rates - maybe for the entirety of 2016.” The next two items are toughies to put it mildly. The FED’s quantitative easing fouled up the U.S. economics- then the rest of the world did the same to theirs. Now with China having a rough landing, Japan lowering