Quite often, I am asked how I retired with a full pension from teaching at the age of 47, when I started planning for it, and who helped me achieve this dream.
We plan our daily lessons, dinners, parties, vacations…Why not plan for our retirement, too? About 10 years before I retired, I sought the help of the Ameritime financial advisors. My husband, Joe, and I met with a team of advisors that laid out the PSRS in easy to understand visuals and terms. The team explained the various options available to me within the retirement system while collecting a complete financial picture of our family. The knowledge and understanding of these options and our complete financial picture allowed us to start thinking about long range planning and goal setting. (Possible retirement options need to be examined carefully to see what will fit your life, based on your financial picture.) I had 10 years to figure it out, but as I always say, “It is important to get your ducks in a row.” Joe and I created a long term financial plan with the help of our Ameritme advisor team. This helped us gain the confidence needed to financially guide our family over the years. (Please note that we met with our Ameritme advisor team annually to review our long term goals and update our financial picture as needed.)
As you know, time seems to “fly by” faster and faster every year. When I reflect on my career, I can’t believe I spent 27 years teaching. Where did the time go? I am thankful for the day of our initial meeting with our Ameritime advisor team. Our eyes were opened to a whole new financial world of knowledge and strategies. We were determined to plan, set, and utilize strategies to gain greater control of our money. I remember thinking that May 2017 would never arrive….well, it did and we were ready!
Ameritime has taught Joe and I that financial planning is NOT a “cookie cutter” approach. Each individual / family has their own financial picture.
Our Ameritime advisor team took the time to get to know Joe and me along with our children. We discussed our short term and long term goals and the futures of our children (generational planning). With the team’s help, we captured a “picture” of information such as our taxable assets, tax-deferred assets, our fixed/variable monthly expenses, regular/irregular expenses, tax free assets, efficient/inefficient loans, and current tax bracket. We discussed our wealth that was in our control and our wealth that was NOT in our control. To be very honest, we were shocked how much of our money was flowing out of our control. It was flowing into the control of the banks and the government. We were working full time jobs and maintaining successful side businesses all the while much of our money was not accessible to us. Dumbfounded, we asked this question of our Ameritime advisor team:
What do you mean by: Gain greater control of your money?
Gaining greater control of your money simply means that you literally have access to, and are able to utilize, more of your money. This also means that less of your money would be flowing into control of the banks and government, where it often would be limited or no access to you. In the end, we are now in greater control of our wealth and cash flow and feel a sense of financial freedom!