5. How to Save $1 Million+ for Retirement

Welcome to RIGGED, the podcast that helps you RIG the wealth game back in your favor. I’m Terry Sacka.

And how do we do that? Two ways. By arming you with knowledge of the wealthy and through diversification into tangible assets. I’m speaking of precious metals such as gold and silver, which are true money and have held their value throughout history. Gold and Silver can be purchased outright and shipped to you, held in a private storage vault and even bought through your IRA or 41 K retirement account. If you’d like to speak to a wealth management specialist right now about building wealth through tangible assets, call us at (888) 747-3309 or visit CornerstoneAssetMetals.com. Make that call that will change your life and your perspective on wealth. Call (888) 747-3309 or visit CornerstoneAssetMetals.com.

Today I’d like to talk to you about how to have a $1,000,000 for retirement. To a lot of people, it seems like oh, that’s not gonna happen, but you’d be quite surprised. I actually, before I get going let me just tell you this little story. This lady I had met back when I was a younger financial advisor and she was a librarian, none of them wrong with being a library in mind you. But they don’t really make a lot of bank to be a millionaire. But she was a librarian, and she actually retired with a $1,000,000 and a little more than a $1,000,000 now. Granted, she lived frugally to some extent. But she did it and she had a really peaceful and rewarding retirement. So anything is possible. It doesn’t matter what income you have. It all is about how you walk your life. So for those that want to learn how to have a $1,000,000 for retirement, I know there’s a lot of financial advisory guides and brokerages that give you all these numbers and statistics, and I’m gonna give you a little bit of math. But for the most part, it really is an ideological thing to understand. So don’t look at this is some mathematical deep broker talk. This is gonna actually be frank relevant to the point. Talk about things we can do if we wanna have a $1,000,000 in retirement, so I was gonna kind of list a few of these things and kind of walk through him. So Number one is don’t leave money in checking accounts that you don’t need. This is really important because a lot of people, they just leave the money sitting in there checking account. They figure it’s in cash, so it’s OK. It’s safe. But money that you want potential access to should be there, of course, but you know, for bills and such. But if it’s money you really don’t need for foreseeable future a couple months, few months or longer, then it should be in high yield, short term CD certificate of deposit of a bank or a money market account. Now, this is becoming harder to find over the, you know, the handful of years. But just understand. I mean, right now they’re not paying a whole lot of interest on anything. But there are ways within specific cash instrument savings, especially in short term CDs. You can still earn a pittance of percentages that will definitely make a difference. And what you will be surprised is over 10 to 20 years it will add up and the goal here. We don’t always think that all ah 100 here or 200 there make a difference, but actually compound ID over the decades. It makes a tremendous difference. And these are the little things that we want to focus on. So always know that use cash or have cash available that you need for bills, whatever short term instrument that you can buy or get into whether it be a CD and right now, unfortunately, savings accounts, even money market accounts and pay almost no interest. And we could even see a go negative. So we may have to do some kind of a short term certificate of deposit at the bank to actually make that worthwhile. But remember, this is money That’s beyond three months so you can find short term CDs that’ll at least pay something, and you’ll be amazed over 30 years how that would behave.

Number two is act like a financial adviser. Not that seeking one is always good, but behaving like one is no mind you. I’m a past financial advisor. I had the Series 63, I’m an accredited asset management specialist. I was licensed with Series 7 for financial advisory at A G. Edwards. I even went on to get into commodities Series 3. So I understand that side of the world there are definitely good financial advisors. Don’t get me wrong. But at the end of the day, a lot of financial advisors are tied to the paper world, paper world winning titlists. You don’t own a title to it. It’s like if you buy a car, you pay it off. You have that title, meaning you own it, and this is really important. Now there are investments. It doesn’t matter if they’re titlist, But this is really important because titles matter. So when it comes to financial advisors, there will be some good ones. Don’t get me wrong, but I think that, you know, today with the Internet, you can do a lot of homework and learn what you need to cover the same type of advisory of Financial Advisor can do. And yet you can do that all on your own and even get a brokerage account on your own. So what is your top financial priority? Ask this question. What is your top financial priority? When would you like to read higher and set the age or time frame? I mean, for people, some people is different. They want to retire.  60, some 65, some 70 or the typical retirement age is around 70 heavily 72. But ask that question and then you can set your priorities accordingly. Or at least you can set your math matrix accordingly, depending on where you’re at right now, on what age you want to start saving.

Number three is if you have a family, Do you have life insurance and always look at all options? Please? Ah, whole policy. A whole life insurance policy is not always the right product because of inflation. Now a lot of companies broker Jews. They like to sell these whole policies. Now the thing with the whole policy is, you pay a lot more into it. And then, of course, it gives you this cash benefit guarantee. It also gives you the life insurance component, and then when you retire, you have this cash as well. And then there’s companies trying to go after that cash. The problem with a whole policy is you put a lot of money into a insurance product, but it does not keep up with inflation. And 2025 years ago, this really wasn’t that big of a deal, although I’m a proponent that inflation was the design of our canes and economics. And I believe inflation has been, well, the poison to the Western economy, because inflation is what actually erodes our buying power. And they keep trying to tell us that two or 3% inflation a year is normal. It is not normal. That is not true in any way. It actually is a lie. And it’s a way that the Western central banks have been robbing us of our wealth. So we have to keep inflation really focused, and life insurance is important. So if you have a family depending where you’re at at what age a 30 year term life insurance policy would be fantastic because typically 30 year term will get you to where you need to towards retirement anyway. And then if there is an unforeseen, you can get a larger policy $1,000,000 arm or very inexpensively. So look at all the different products and do your homework and then have peace with it because the amount of money you spend on each one of these type of investments makes a really big difference. Because, remember, we’re talking 20 years, possibly 30 years of calm pounding and depending on what age you’re doing. If you’re starting in your twenties, you’re talking 40 years of calm pounding so that additional couple $100 a month or whatever it is annually will compound to make a difference. So that’s why when we’re looking to try to have a $1,000,000 in retirement, we need to be really focused on the tens and twenties, if you know what I mean. Because everything adds up and life insurance is very important because number one is something were to happen to you or your spouse. If you were married, that could be a dramatic income shift, and you’re going to want to have. That and the reason I like term policies. Not mind. You look at all the different products, but the reason I like term insurance is because you can do 30 years and get large sums, and typically, if you’re young enough, you won’t even have to do a medical exam. And so you’re contributing very, very little monthly. But yet having that whopping impact. If, for some unforeseen reason you have an accident. Next Number four would be to build a healthy savings account. And don’t underestimate the importance of health insurance or long term care policies now going to get a little more into what that means. Because, of course, with Obama care and different things, that kind of came along and changed the landscape of health insurance. But it is very important how to manage our health insurance. And I’ll do that in the next episode. As we continue to talk about. How do we save for $1 million in retirement until next time..

The world is at a tipping point. Our fragile food supply is being destroyed by locusts and fires. A global viral pandemic is collapsing the economic supply chain impacting financial markets all around the world, leaving you and your finances more vulnerable than ever. Now is the time to protect and preserve your assets. Cornerstone Asset Metals is here to help you protect and preserve what you’ve worked so hard to gain. Whether you have IRAs to protect for a one case to preserve or cash in the bank, our asset specialists are here to support you. Call now, and we’ll send you urgent information regarding changes to the dollar and the challenges to our economy that you need to be prepared for. Learn how easy it is to roll over your current IRA or 401K into a physical precious metals IRA. We can even arrange to have your precious metal stored in a private vault or send it directly to your home. Do not delay. Call (888) 747-3309 today that’s (888) 747-3309 Invest in precious metals and create security in your future today. Call now.