“Did you know that today, close to 35 percent of American retirees over the age of sixty-five rely almost entirely on Social Security payments? … The average Social Security benefit is only around $1,194 a month. That means a third of all retirees in this country are living on an average annual income of just over $14,000!” – Chris Hogan, Retire Inspired
I just finished reading Chris Hogan's Retire Inspired, and highly recommend it. This book isn't just about retirement, its about dreaming for your financial future. Whether you’re 25, 35, 65 or 75—I think this book is for you. Hogan writes often in this book that “retirement isn’t an age, it’s a financial number” and this book gives practical advice about dreaming for an incredible retirement. Through step by step chapters, Hogan leads his readers through the process of dreaming, and the practicals of setting up and living on a budget, selecting investments and insurance.
“A dream without a plan isn’t really a dream at all. It’s a wish. … A wish requires no follow-through, no discipline, and no action on your part at all. Wishes are as good as giving up! If you are going to have a real dream, you need a real plan!” – Chris Hogan, Retire Inspired
Yes, I am only 34, but I am dreaming and planning for retirement!
As an attorney, I appreciated the chapter on estate planning. Hogan clearly broke down the essential elements and documents everyone should know about and use. He outlines the things many are afraid of-- probate, estate taxes, and disability; and clearly gives advice about how people can use proper estate planning and insurance to protect themselves. I love that Hogan recommends everyone have a Dream Team of people to help arrive at your financial dream-- everyone from an accountant to your lawyer. As Hogan puts it, we need to assemble our team, so we're not alone on the basketball court. We aren't alone, and we need to utilize the experience and skills of others to help us achieve our dreams.
“76 percent of people in the United States are living paycheck to paycheck!” – Chris Hogan, Retire Inspired
Granted, I will admit that we’re not living the dream yet, as we’re working hard to pay off debt (stupid Student Loans!). However, we love to dream of a time when we are debt free, financially free, and are able to live in a way that will bless our families and others. We dream of being able to support ministries around the world, specifically campus ministries. We dream of paying off our house. I dream of living on land again, and having animals to take care of (Ok-- I'll admit, I dream of having my own ranch). We dream of paying for our son to go to college, and enabling him to never go into debt for an education.
While this book is inspiring, full of easy to digest information to plan your retirement now—before you actually retire, this book is also about dreaming for the future. Check out the book today!
“Remember, failing to plan is the same as planning to fail. You’ll never get where you want to go if you don’t plan your route; that’s true for road trips and retirement!” – Chris Hogan, Retire Inspired
So what’s your dream retirement?