Double your retirement portfolio

How to double your retirement portfolio? 

A midlife crisis is a transition of identity and self-confidence that can occur in middle-aged individuals, typically 45 to 65 years old. One of the most important aspects that you start to give more attention to during the middle aged years is your ‘retirement portfolio’. With growing life span and more arenas to spend on, we have to be more mindful of our retirement expenses and hence we need to focus on growing our retirement portfolio during the middle aged years. 

There are three main areas on which we can work to increase our retirement portfolio with the intention of doubling it. These areas are: understanding short term and long term taxation, understanding when and how to switch the asset classes in the asset portfolio and lastly, how to modify our financial behaviour to favour growth of the retirement portfolio. 

Consistent with investment

We have all heard about the idea of being consistent with investment, but more than that, it is also about being aware of how to consistently increase the investment over time, so that you have a retirement lifestyle of your choice and also have enough to give to your heirs or your favourite charity.

In my experience of a few decades, I have seen one strategy working brilliantly to support the growth mindset for growing the retirement portfolio. I call this strategy - One Word Financial Plan. Find one word that inspires you to grow your wealth, and ask yourself multiple times, why that word inspires you to grow your wealth. For example, for me - the word is ‘legacy’. I want to leave a legacy and that is my one word financial plan. I want to be a role model to my children and to fellow immigrants who have started from scratch in a new country and built a multi million dollar empire which is creating ripples of change in the lives of hundreds or thousands of people. 

Wealth has the power to create change

Our wealth has the power to create change and we are the catalyst to direct our wealth to that change. Give yourself 5 minutes and ponder, what is that one word that can become your financial plan and inspire you to create wealth for the benefit of everyone. I recommend using a 3 steps system to find your word that can be your financial plan. First step is to write down the first 10 words that come to your mind. Second step is to write why each of these words can motivate you to create more wealth. Third step is to write down a short story focusing on how it will feel when you will realize your financial goals using this word financial plan. 

Some people find it surprising as to why I focus on writing feelings in the third step. And, there is a scientific reason for it. Feelings are the most important carrier of wealth in our lives. We all know that if we earn more money and create more wealth, we tend to feel more pride and more confidence, but more wealth does not make us immune to negative emotions or feelings. A Harvard University’s study found that the psychology behind our relationship with money is very under-rated.

Money is indeed a very emotional topic, but we are not very comfortable talking about money in most circumstances - be it when quoting our fee to prospective customers, or negotiating a higher salary or making a decision to buy a house or rent one. Hence, I focus on bringing more clarity with respect to your relationship with money and wealth and then create wealth with the intention of doubling your retirement portfolio. If you want to know more on how it is possible using a well researched and experienced method, join my waitlist on this link 👉 HERE

 and my team will get in touch with you as soon as an opportunity.to work with me on a one to one basis arise.