Rebecca Walser
speaker
151 appearances
2 recordings
1 series
first heard Jan 2018
last heard May 2018
Rebecca Walser’s voice in public audio — every appearance, attributed to the second.
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Appearances
But when we run the models on 10%, extrapolate that over someone's lifetime, we see that 10% is just very deficient when it comes to building a true, secure financial retirement.
So the truth is 10% is insufficient.
And we aren't even saving that.
We are spending everything we get.
And this is what's created our retirement savings gap, which, as we know, is anywhere from $7 to $14 trillion.
Yeah, we don't want to drain the retirement account to pay off credit card debt because, first of all, the retirement account is probably not where it needs to be already.
So draining it further to pay off current spending, you have to look at the dollar.
And I encourage everyone to do this.
Look at every dollar that you make a decision on spending as making a decision for two people.
And those two people are really your current self and your future self.
And every time you make a decision that your current self gets to spend that dollar, and that includes the retirement account, then you are making that decision at the detriment of your future self.
And we can't do that over our entire lifetimes and then expect our future self to maintain the lifestyle we've had.
It's just not going to happen.
Yes, absolutely.
If you've never done this exercise, you literally, I tell clients, list out the actual budget that you're actually spending right now.
And if that includes a lot of money that's going to discretionary funds like out to eat and to the movies and whatever it is that you like to do, playing golf, whatever it is you like to do,
Really list out what it is and then let's see how much money we have left over to take care of these credit card debts and these kinds of consumer debts that we have.
And if you see that, what we only have is the minimum payment amounts.
That is a no-go.
That is a non-starter.
Showing 101–120 of 151 · page 6 of 8
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