This Money Mind Shift Will Help You Control When You Want to Retire (and Not the IRS)

The IRS Makes You THINK That Retirement Starts at 60. Learn Income Producing Strategies to Set Your Own Retirement Age

• • Typically I’m asked, “Can I afford to retire?” by women in their late 50s and early 60s.
  • Women in their late 40s and early 50s ask, “What can I do to retire before I’m 60?”

• • While women in their 20s and 30s are more interested in doing work they love, so much so that they claim they will work forever, because their focus is on enjoying life now.  
  • While the tax advantages may seem attractive and be logical reasons to invest inside of retirement accounts, investing in retirement accounts can create unintended consequences.  
  • Early withdrawals from retirement accounts come with IRS penalties and taxes which on one hand can help you stay the course and stay invested. On the other hand, knowing about these penalties can keep you from your goals and dreams and keep you in a job or career that makes you miserable.
  • There are other ways to invest other than in retirement accounts! You can invest inside of a non-retirement account. You can invest in yourself and sell your knowledge, time and talent.  You can invest in your business, or someone else’s. You can invest in real estate, collectables, vehicles and more.  
  • Think big! Think beyond one. The wealthy have multiple income sources. Having multiple income sources helps reduce your risk of loss of income. Having multiple sources of income can also help you grow your sources of income by structuring your income in ways where one feeds the other.

Interview: Melissa Myers.

Melissa Myers, CFP® is a heart-centered financial planner and typically works with women who are solely responsible for their own financial future. She helps them align their money with their values so they can live their ideal lives and be a blessing to others.  Myers is a business owner, co-founder of Kar-Mel Financial Planners, creator of Sunkissed and Blessed lifestyle brand, and has been a featured guest on podcasts: Diary of a Small Town Girl and Casa DeConfidence.

Melissa is passionate about empowering women with money and is also the bestselling author of Going Rogue! Unconventional Financial Strategies for Women.