According to one financial expert, how happy you'll be after you stop working isn't just about how much money you have.
It's based on how much money you have
in relation to how much you need.
Wes Moss, the chief investment strategist at Capital Investment
Advisors and host of "Money Matters," interviewed over 1,300 retirees in
46 states.
He details the findings of his survey in his book, "
You Can Retire Sooner Than You Think: The 5 Money Secrets Of Happy Retirees," where he writes his observations of the happiest retirees, from how they think to
what they drive.
From all of that research, he came up with a ratio that he finds
could help predict your financial security, and by extension, your
happiness, in retirement. It's called the Rich Ratio.
It's pretty simple. To figure out yours, you just need to determine:
1. How much money you'll have. This number should be
your monthly income, including any income streams supplementing your
savings, such as Social Security, a pension, or rental income.
2. How much money you'll need.
This number should be your monthly expenses. Don't just guess! How much
will your living expenses, groceries, transportation, entertainment, and
even medical costs set you back? If you currently keep a budget, that's
a great place to start sourcing these numbers and modifying them for
your planned retirement lifestyle.
Then, divide the first number (how much money you'll have) by the
second (how much money you'll need) to come up with your Rich Ratio. For
example, $2,400 income divided by $2,000 expenses equals a Rich Ratio
of 1.2.
It isn't revolutionary, but it does boil down your financial
security into a single number. "Any ratio over one is fantastic," writes
Moss. "Any ratio below that, well — let's just say you have some work
to do."
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Until I was in my mid to late 40s I always lived my life like I was going to work until I died. This was just a part of my philosophy of life. I always felt that God would send me all over the world to help and meet everyone he wanted, and when that was over I would die or disappear like Yoda or Obi-wan kenobee or something.
This was always what I believed. But, then God turned my life inside out and upside down with a divorce after 15 years of marriage, one child from my previous marriage, two kids from her previous marriage and one together. I couldn't believe I was going through a divorce at 45 and I really didn't expect to survive this this late in life. God had other plans for me. I met and married a lady 7 years younger than I and together we had another daughter. But, when I couldn't get custody of my then 5 year old I got angry and despondent and got a heart virus and the doctors didn't expect me to live for about 8 months. But, like the angels said to me in unison (resurrection angels) the first few hours of my heart virus they said, "You are not going to die. Your life will get better now." They kept repeating it until every cell in my body must have believed the angels(always listen to angels because they are usually right) whatever they say usually happens. This is way beyond precognition human style.
They were right. 8 months later after being forced to retire or literally die I was okay once again. My heart specialist said, "Hey. we figured out finally what was wrong with you and your heart healed itself."
I was stunned and knew God had done this for some reason, so I began blogging at my first blog site then in 1999 about all my experiences with God to help anyone who would listen.
Somehow, what had actually happened is that I could afford to retire when I did and as time went on because I was retired I could invest better and better because I wasn't out there struggling to make a living every day anymore. So, things got better and better because of this. I got 9 weeks every year with my daughter who was by now 11 or 12 and the best part of my life was so far May 1999 to the present. By God's Grace.
So, if you are helping everyone you know and doing the best you can "God helps those who help themselves" in the beginning, middle and in the end.
NOT that there actually is a beginning, middle or end to anything really.
By Libby Kane – 8 hours ago
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