Take Charge of your Own Retirement

Today I watched a video by Jim Rohn, the message of which was something I have heard before i.e. that in order to be successful, we need to hang out with the small minority of people who are successful. That means walking away from the 97% of people who are unsuccessful and joining the 3% of people who are very successful. I don’t know how scientific that figure is, but I do know that Jom Rohn is well read, so there may be some basis of truth in it. By the way, here’s where you can watch Jim Rohn motivational videos.

There was something that Jim said that really impacted me and the way he put it made think the figure was based upon some research: he said that in America, only 5% of the population, at retirement age, were able to support themselves financially; 95% of people were financially dependent. He then went on to make another interesting comment: if you take charge of your own retirement income, you can easily multiply that figure (financial independence) by a factor of 5, he said. Furthermore, you can divide that figure by 5 if you are relying upon the state of some company plan.

Those comments were particularly interesting because only yesterday I was speaking with my own pensions advisor about how to invest the fund I have been accumulating since my early twenties. I learned that my fund was higher than the average pension fund, but with the current financial climate, purchasing an annuity right now would bring in an income of around one third of my final salary in the day job and, at that figure, the income would not be index linked. It was a far cry from the projections that were being shown to me at various planning meetings along the way ;).

Now, I don’t really care too much about the level of my pension income because, just as Jim was suggesting, I have already taken charge of creating my own retirement income. As it turns out, my own efforts, including this website, will be responsible for dealing with that shortfall and, just as Jim suggests, I intend to create a retirement income that is considerably greater than my final salary. How can I be so optimistic about that? It’s simple really. Once I figured out how to make money online consistently, it then became simply a matter of learning how to scale up my operations. If you want to learn how to make money online, I recommend our course The Definitive Money Engine to get you started.

Jim went on to say that whatever the 97% are doing is essentially wrong. How do we know? Because of their results. Apparently, one thousand funerals per day can be attributed to people dying from cardio vascular problems. He suggests they were not exercising enough. He says that the vast majority of people cannot be bothered enough to walk around the block, or eat one apple per day, for the benefit of their health. So the 97% of unsuccessful people with whom we are very familiar are giving us an object lesson in what not to do, so …

• Don’t go where they go
• Don’t do what they do
• Don’t speak as they speak

Instead, join the 3%. You do this by modelling successful behaviour. You learn to do what they do, go where they go and speak as they speak. These are all causes and, by the law of cause and effect, they invariably produce predictable effects. Some of the things he suggests we do are:

• Eat an apple every day
• Go for a walk every day
• Write a journal every day
• Read books every day

You may recognise this proposal as something Stephen Covey calls sharpening the saw i.e. looking after your physical, mental and spiritual well-being and it is something that successful people generally do. Of course, it is so much easier to not do these simple things. 97% of the population don’t take this process seriously or, if they are serious about it, they are serious about only one aspect of self improvement. They focus upon their body, for example, by concentrating on just getting fit; or they focus upon the mind – the process of learning; or they focus upon their vision alone – expecting the law of attraction to deliver the results without effort on their part.

In habit 7, sharpen the saw, we have the essence of what is required to join the 3%. This habit is not theory; it is something you do and it is done in a very personal way. But start thinking in terms of the three dimensions of the human condition: body, mind and spirit – and ask yourself what you are doing regularly (remember a habit is something you do regularly) to feed each one of these areas. These simple causes – regular aerobic exercise, feeding your mind with the good stuff and focussing upon your vision – are what separate the 3% from the other 97%.

Leave a Reply