Money Like Mike

WHOA, my first quote in an online article. Thank you Clare Honeyfield for mentioning me in your wisdom ( #7 when you read the write-up)

https://stroudtimes.com/clare-honeyfield-on-celebrating-25-years-in-business-and-overcoming-shyness/?feed_id=13347&fbclid=IwZXh0bgNhZW0CMTEAAR0KFZHwXIM8-Ioa5QR4zcbADm-0DDnf063zCqNPUW6u44qxo6CKf3XNgH0_aem_AS80yKGpjHermnyz3AtuNb24dqOP9r6BYAeMSi_7vu9i2GnRuq9XGL4h0s31agdz4aeLOBIS49gVC3dqHzzw6IUs

Clare Honeyfield on celebrating 25 years in business and overcoming shyness | Stroud Times I’m celebrating 25 years in business with recognition and gratitude for everything I’ve learned over the years and all the ways I’ve grown as a person.

Ever thought about "retiring" early?

If you are anything like me, then I thought about this nearly every day. Especially when days would suck doing a job I wasn't 100% passionate about!

This is where a bridge account comes into play. A bridge account is an account to BRIDGE them over a gap of time from the age they want to "retire" to their preservation age. There needs to be enough money to get them through this period of time.

Example: you want to stop working at 50 years old and you can't access your retirement savings until 65. There are 15 years of time you must fund with lifestyle costs. Let's assume your life costs $5,000/month = $60,000/year. That is a total of $900,000 needed to fund 15 years. (less if it's invested)

This could be improved if you want to work part time and only need an extra $2,000/month from the bridge account to last until 65 years old. Resulting in needing $360,000 for the 15 year bridge. Nearly a third less than stopping work all together!

Want to reach financial freedom?

Here are the 5 steps and I have found works for us and our clients. We both have been living these principles for years and we KNOW it works.

It is how I got out of debt and gained control of my time!

What are you doing to make Q4 a great last quarter of 2022?

This is spot on when it comes to your personal finances!! Too many of us take advice from banks (old Mike included) when it comes to answering “what should I do with my money?”

Learn what’s out there and then think for yourself! Do what is right for you and your family, not for the banks 👌

So fun!!! Thank you for the opportunity to share my knowledge and your questions 🙏

Another wicked office this week 👌 I love working from anywhere 😍