Accountability In Your Personal Retirement Planning
As the author of “The 3 Secret Pillars of Wealth” I have identified what I think are seven to eight steps all Americans need to respond to and become accountable to right now. Accountability is when you’re going to get serious about what you’re doing and where you’re going. Jeff Combs, a great coach and trainer says “your word is your bond” and what is your word worth to yourself? Do you constantly procrastinate and fail to examine your finances because your fearful, don’t understand them or you are addicted to poverty consciousness rather than prosperity consciousness? Some people are addicted to struggle so much that they get in their own way of success.
It is shocking how many Americans are not accountable for their own retirement and do not do the things it takes to be financially independent. The Wall Street Journal recounted on how much apathy is out there and there is no room for slip-ups or lackadaisical attitude.
Here are the 7 things you absolutely must be doing to get the type of result you’re looking for which is financial independence in your retirement.
- Build up cash flows
- Build an emergency fund
- Eliminate debt – (bankruptcy, short sale or debt settlement)
- Rebuild credit if necessary
- Create an emergency fund (all families need this for unexpected events)
- Protect what you have (protect your principal from market loss
- Build a plan for long-term income and savings
- Have an estate plan in place to care for your affairs
It is very effective to just have steps or a checklist. Some of the most complicated machines (aircraft) and computers are run on systems and they have checklists to keep them functioning optimally. Why avoid this evident fact of how to keep things in order and follow a checklist? Everything you need is in 8 steps to financial freedom. Sure, there is a little bit of work in each step but things are now isolated and broken down into manageable pieces and that is problem solving.