It's never too late

I received an email from a reader of my Money Matters newsletter from my offshore investing site. He was concerned that he'd not prepared for his retirement and it was now almost too late. Preparing for financial retirement is not unlike preparing for your longevity (ie. health and fitness into old age). My answer may be pertinent to many others.

There is no easy answer of course. I could say invest offshore and she’ll be right mate but that’s not right. Investing offshore is not for everyone. And if you are going to do it you need to find out as much as you can first. You certainly can make fantastic returns but not all turn out that way... I do think it is wise to not have all your eggs in the one basket.

But investing is only one possible source of income. There are other possibilities.

I wish I had started created other income streams long ago.

Now just because you are 60 doesn’t mean it’s too late. Once retired you might have a bit more time on your hands to venture into something new. And old dogs CAN learn new tricks. One idea you might like to consider is the internet.

Be warned however you will quickly be overwhelmed by it all. Don’t make the mistake of trying to do it all by yourself. That’s a hard frustrating road. Find someone who can help you to do it right... After struggling by myself for a long time I engaged the help of someone who knew what he was talking about and has done it and still is.

At 60 you’ve got plenty of life left yet and getting your teeth into something new that you like doing will probably add years to your life. With guidance you might be able to capitalize on existing knowledge but apply it in a new way to create income.

Here are a couple of pointers to keep in mind as you search for your new path. These pointers can equally be applied to your health and fitness.

Set Strategic Goals -

Successful people have a written plan for where they are headed.They do not blindly guess what to do next. At the earliest opportunity, you should sit down and begin listing your goals. Then, break down the steps you'll take to achieve those goals. Write down everything and review the list as often as possible. If you focus on those goals, you will naturally do the right things to achieve them.

Keep your Focus -

You won't get good at anything, or be successful in any business, without focus. You can run multiple projects, but you have to focus on each one individually.

The simple way to do this is to start one project and get that running smoothly and successfully. Then, you can start the next project. You'll find it hard to start and manage several things at once.

This does not mean that you have to personally do something daily. Your business can be automated so that it works all the time and the internet does this well.
If you develop a system that you work consistently, you'll find your level of success will increase.

So whether it be financial or your health, plan your goals and keep focussed on them.

Cheers.