#WomenInRetirement #EarningsOfWomenVs.Men #jobs #layoffs
During their working years, women tend to earn less than men.
When they retire, women are more likely to live in poverty.
So says an article by Adam Allington of the Associated Press, published in the July 11, 2016, edition of The Atlanta Journal-Constitution.
Women who raised children and cared for the sick and elderly family members often take what savings and income they have and spend it on something other than their own retirement security, Allington writes.
He quotes the National Institute on Retirement Security, which reports that women are 80 percent more likely than men to be impoverished at age 65 and older. Women 75 to 79 are three times more likely, Allington writes.
“I’ve had jobs that included a 401(k) and I was able to put some money aside every month,” Allington quotes Marsha Hall, 60. “But then I would get laid off and have to cash out the 401(k) to have money to live on,” he quotes Hall, who was born and raised in Detroit, is divorced and has no children.
Hall works part time as a file clerk, and she and her siblings chip in to care for their 75-year-old mother, Allington writes.
“If it wasn’t for Section 8 (a housing subsidy), I don’t know where I’d be living,” Allington quotes Hall.
Many men also have undergone a layoff in the last few years. Many families have lost their homes and have had to liquidate some, if not all, of their retirement savings.
Some see themselves scraping together a living via Social Security, part-time or even full-time jobs well into their golden years – presuming they can find those. For many, trying to reproduce the income they had in a job they lost is nearly impossible, as they see it.
Fortunately, there are solutions out there that can produce an income – even a better income than one has ever had – that don’t involve subsidies, or working at a traditional W-2 job in your golden years, and allow a person to help others do the same. For one of the best, message me.
Traditionally, women have borne the brunt of caregiving. They have also, in many cases, had to take off some work time to have children.
Much research has shown that, in general, they have also earned cents on the dollar vs. men.
These phenomena may have put women behind in earnings, thereby putting them behind in terms of retirement savings.
But both men and women are facing what Hall has faced in recent years: layoffs and not being able to replace a lost job with one that yields as good or better income than what was lost.
It’s important for everyone to have a Plan B in case the worst happens. If you have a good job, stay with it and save as much of your income as you can. Invest those savings well, with the help of a trusted adviser. If life forces you to take a break from work, try not to deplete those savings, though that may be easier said than done.
Most of all, make a secure retirement a priority in your life by spending less and saving more.
Peter
Tag Archives: retirement
HOW TO BE A HAPPY RETIREE
#retirement #happiness # StayPositive
Happiness in retirement may not entirely be based on how much money one saves for that purpose.
Many other things go into it, according to Wes Moss, chief investment strategist for the Atlanta-based Capital Investment Advisors, host of the “Money Matters” show on WSB radio in Atlanta and personal finance columnist for The Atlanta Journal-Constitution.
He discussed his eight rules for a happy retirement in his newspaper column published June 7, 2016.
His eight rules include: 1) Skip the BMW. Own a car that is comfortable, reliable and affordable. 2) Stay the course on investments. Don’t chase the next “hot stock.” 3) Give back. Find a cause you care about and contribute your time, talent and money. 4) Don’t move or renovate. Make sure you are happy with your home before you stop working. 5) Buy the big stuff before you retire. When you spend your money is just as important as how much you spend. 6) Start now. He writes that 44 percent of unhappy retirees in Moss’ study group were dissatisfied with how much retirement planning they’d done. 7) Know your rich ratio – the amount of money you have in relation to what you need. Or, monthly income divided by monthly expenses. 8) Stay positive. People probably won’t retire when they want to because they don’t believe they can, he says.
It’s certainly important to save for retirement, starting at the youngest age possible. Some in previous generations did not begin saving until their children were adults.
With the job situation very fluid today, one should not expect to work for as long as he or she wants. People are very often retired early not by their own choosing. If you’ve developed good saving and investing habits as a young person, you need not fear this problem.
Also, one should always have a Plan B, in case a good job goes away prematurely. It’s difficult to be a happy retiree when one is forced into the situation. One Plan B might be to turn a hobby into an income-producing activity. Another might be extensive, careful investing throughout your life.
There are other Plan Bs that allow people to make additional income without the need for a traditional W-2 job. For one of the best, visit www.bign.com/pbilodeau
As Moss writes, retirement is more than just sitting in a chair resting from years of labor.
It’s meant to be an enjoyable part of your life. You can certainly do things you love to do, but many experts say that it’s best to have a purpose in life, no matter what your age. That’s probably where Moss’ “give back” rule comes in.
“The happiest retirees envisioned a future and worked consistently toward that future with optimism – secure in the knowledge that while the economy and stock market can be a crazy ride, the long-term trend has been decisively positive,” Moss writes.
If you are young, think about when you might want to stop working, and prepare for that time. Set a goal. Follow Moss’ advice and don’t let fear and pessimism kill your dreams. Enjoy your young life, but also prepare for a good life as you get older.
Always have in the back of your mind that one day, the good job you have might disappear. If it doesn’t, you will have lucked out. If it does, the well-prepared person will go forth knowing he’s done his best to be happy in the face of an unexpected turn.
We can’t control our circumstances, but we can do what we can to react positively when things don’t go as we would want.
Peter
NEW RULES FOR RETIREMENT INVESTMENTS
#retirement #investments #NewRulesForRetirementInvestments
Like eating and sleeping, choosing how to invest for retirement is a necessity of life.
The number of options makes the choice more difficult.
What may be good news is that new federal rules encourage brokers and other investment sales folks to make the client’s interest a priority, regardless of how much the broker may lose in fees.
Russell Grantham, a business reporter for The Atlanta Journal-Constitution, discussed these new rules in an April 24, 2016, article.
Baby boomers are starting to retire in large numbers, and these new rules are designed to ease the burden of choosing the correct investments for them.
As Grantham’s article points out, though, the new rules may discourage some brokers from dealing with clients that have small nest eggs. It could increase brokers’ costs, he writes.
The rules are among the biggest changes in the financial industry in generations, Grantham writes.
The financial industry sometimes gets a bad reputation. Not everyone in the industry looks out for his or her own interests over his or her clients’ interests.
The bottom line for investors, regardless of how much money they have, is to find someone trustworthy to manage their hard-earned money.
Someone trustworthy will always have your best interests at heart. Someone trustworthy will manage risk according to his client’s tolerance.
Someone trustworthy won’t be calling his clients daily, attempting to generate trades that may or may not be in the client’s best interest. Someone trustworthy won’t steer clients into investments that pay brokers the highest commissions/fees, if they are not in the clients’ best interest.
Also, the financial industry is extremely competitive. Those who work in it must not just make a living, but also must make money. A great way to judge an investment adviser is by how much he or she is making for YOU. Generally, advisers don’t last in the business if their clients are making puny returns, or are sustaining heavy losses.
Know, too, that the financial markets don’t go up in a straight line. There will be some down times throughout any investment market.
But good advisers will get clients’ through the tough times with minimal, if any, losses.
Though the markets don’t generally go up in a straight line, they generally go up over time. Beware the financial adviser who predicts doom, and encourages clients to pull everything out and turn everything to cash. Although it’s nice to have some cash available, cash by itself generates little or no return.
All this discussion about rules for advisers begs another question: how much money do you have for your retirement, and are you investing it properly? If you don’t believe you have enough for your retirement, and don’t know how you are going to get what you need as you age, visit www.bign.com/pbilodeau. There are many ways to generate extra income, and this is one of the best.
So choose your investment adviser carefully, if you haven’t done so already. Talk to several before you decide. Make sure the person you choose understands how much risk you can stand. Make sure, too, that he or she creates a balanced portfolio for you, and isn’t so conservative that your returns will be puny.
You’ll know by talking to different advisers whether you can trust them. Regardless of the rules they have to live by, trust is the main thing to look for in an adviser. The adviser’s job is not just to make you money, but also give you peace of mind.
Peter
NEW RULES FOR INVESTING: HOW WILL THEY AFFECT YOU?
#retirement #investments #NewRulesForInvesting
Like eating and sleeping, choosing how to invest for retirement is a necessity of life.
The number of options makes the choice more difficult.
What may be good news is that new federal rules encourage brokers and other investment sales folks to make the client’s interest a priority, regardless of how much the broker may lose in fees.
Russell Grantham, a business reporter for The Atlanta Journal-Constitution, discussed these new rules in an April 24, 2016, article.
Baby boomers are starting to retire in large numbers, and these new rules are designed to ease the burden of choosing the correct investments for them.
As Grantham’s article points out, though, the new rules may discourage some brokers from dealing with clients that have small nest eggs. It could increase brokers’ costs, he writes.
The rules are among the biggest changes in the financial industry in generations, Grantham writes.
The financial industry sometimes gets a bad reputation. Not everyone in the industry looks out for his or her own interests over his or her clients’ interests.
The bottom line for investors, regardless of how much money they have, is to find someone trustworthy to manage their hard-earned money.
Someone trustworthy will always have your best interests at heart. Someone trustworthy will manage risk according to his client’s tolerance.
Someone trustworthy won’t be calling his clients daily, attempting to generate trades that may or may not be in the client’s best interest.
Also, the financial industry is extremely competitive. Those who work in it must not just make a living, but also must make money. A great way to judge an investment adviser is by how much he or she is making for YOU. Generally, advisers don’t last in the business if their clients are making puny returns, or are sustaining heavy losses.
Know, too, that the financial markets don’t go up in a straight line. There will be some down times throughout any investment market.
But good advisers will get clients through the tough times with minimal, if any, losses.
Though the markets don’t generally go up in a straight line, they generally go up over time. Beware the financial adviser who predicts doom, and encourages clients to pull everything out and turn everything to cash. Although it’s nice to have some cash available, cash by itself generates little or no return.
All this discussion about rules for advisers begs another question: how much money do you have for your retirement, and are you investing it properly? If you don’t believe you have enough for your retirement, and don’t know how you are going to get what you need as you age, visit www.bign.com/pbilodeau. There are many ways to generate extra income, and this is one of the best.
So choose your investment adviser carefully, if you haven’t done so already. Talk to several before you decide. Make sure the person you choose understands how much risk you can stand. Make sure, too, that he or she creates a balanced portfolio for you, and isn’t so conservative that your returns will be puny.
You’ll know by talking to different advisers whether you can trust them. Regardless of the rules they have to live by, trust is the main thing to look for in an adviser. The adviser’s job is not just to make you money, but also give you peace of mind.
Peter
ARE YOU 20-SOMETHING AND STILL LIVING WITH MOM AND DAD?
#millennials #StillLivingAtHome #adults
OK, you’re 20-something, with no job, perhaps a college degree.
Let’s presume you don’t want to be living at home, but you don’t believe you can afford not to.
If you PREFER to live with your parents, that may be a discussion for another time.
Peter Dunn, an author, speaker, radio host and personal finance expert, tells young people to “knock it off,” as the headline reads, and stop laying their financial problems on their parents. He discussed this in a March 29, 2016, column in USA Today.
Dunn says that every late-night pizza, every beer and every other good-time splurge in college contributed to the young person’s financial dilemma.
“Your parents (speaking directly to the young folks) want to cut you off, but are afraid to,” Dunn writes. “It’s not good enough to stop asking for money. You must tell them you don’t need their money anymore.”
Admittedly, the problem is not as simple as it appears. Kids go to college expecting to come out with some kind of job. But, as the last few years have taught us, not only is that not guaranteed, it’s becoming more unlikely in certain fields.
On top of not having a job, the kids may have mountains of college debt lurking in their lives.
Certainly, if you are in college now, you need to be aware that you might not have a job when you get out. The earlier you plan for it, by, say, watching your spending while in school or getting work experience in some area that might employ you when you get out, the better off you will be.
It’s great to love your parents. It’s great for your parents to love you. The greatest love you can show your parents, perhaps, is not to burden their lives. They are trying to save for retirement. Every dollar they give you is one they cannot put to that cause.
As a young person, you can lament that your parents probably had it better than you as far as the job market goes. Or, you can buck up and find ways to support yourself in the current climate.
Believe it or not, there are many ways out there to do that that don’t necessarily involve manual labor. For one of the best, visit www.bign.com/pbilodeau. You may have to look outside your comfort zone for a solution, but the possibilities are out there.
Let’s look at this from a social perspective. Do you really want to bring a date back to your place with your mom and dad there? Do you really want to confine your personal space to one room? Do you really just want to hang out at home the rest of your life?
A life is certainly worth working for, even if that work may not be exactly what you want to do. You can also find a solution (job) that is temporary, while you think about how you are going to use all those skills and all that knowledge you paid so dearly for. Chances are, you WILL find a use for it, but it may or may not make you a living.
“I’ve come to the conclusion that asking 18-year-olds to commit to tens of thousands of dollars of debt, without a job, income or assets, is among the stupidest things modern society does,” Dunn writes.
We hear that you can only get a good job with a good education. But some of those “good” jobs don’t pay much. If you are going to commit to a college education, have a plan. Know what you are going to do with it as you proceed. Also, beforehand, do the math. Decide whether the education is worth the debt. There’ no shame in deciding that college is NOT for you, or just not worth the financial sacrifice.
Whatever you do, give mom and dad a break. Come home to visit, even frequently. But make your home somewhere out of theirs.
Peter
PENSIONS: WHAT YOU WERE PROMISED MAY NOT BE DELIVERED
#pensions #retirement #RetirementSavings
Retired Teamsters are sweating.
For those covered by the Central States Pension Fund, a multiemployer pension fund, the outlook is grim.
Central States is paying out $3.46 for every dollar it’s taking in, according to Mary Sanchez, columnist for The Kansas City Star. Her column appeared in a February 2016 edition of The Atlanta Journal-Constitution.
To avert a dissolution of the fund, Central States applied to the Treasury Department, the federal Pension Benefit Guaranty Corp., which ensures pensions against bankruptcy, and the Department of Labor for permission to cut pension payments to beneficiaries, Sanchez writes.
If the plan goes through, many beneficiaries would face cuts of up to 60 percent in the payment they had spent their lives working for, believing it was guaranteed, Sanchez writes. Until 2014, it wasn’t legal to do that. But that year, the Multiemployer Pension Reform Act was attached at the last minute to a must-pass omnibus spending bill, according to Sanchez.
On its face, it’s not fair to those retirees. It is not their fault that their pension fund is losing its economic viability.
But it’s not as if this was a surprise. We’ve been warned for years that because there are more retirees than workers to support them, a pension crisis was looming.
The Great Recession exacerbated the problem because many of the workers have lost their jobs. In the case of the Teamsters, union membership has declined. There are fewer jobs, and more of the jobs that still exist are being done by non-union labor.
In fact, many employers are not including pension benefits as part of the employment package.
If you are still working, chances are very good that you are on your own to fund your retirement.
What to do?
First, especially if you are young, dedicate a portion of what you earn toward your retirement. Put that amount from each paycheck into a fund and, with the help of a trusted adviser, invest it properly. Don’t fret the gyrations of the stock market. Time usually heals such wounds, and the market, over time, has proved to increase a person’s wealth considerably.
Another solution is to find one of the many alternative ways to earn money outside of your job, and see whether it is right for you. For one of the best, visit www.bign.com/pbilodeau. If you like what you see, and do it properly over time, you may not have to worry about your retirement.
If you are currently retired, or near retirement, such Plan B options may help you live a secure retirement.
As Sanchez points out, the solution to the pension debacle will be costly. Even the Pension Benefit Guaranty Corp. is in danger, she writes.
Though making the pensioners pay the price may be unfair, it may be unavoidable.
Even if you were promised a good, secure pension, be it from the public or private sector, don’t presume those promises will be kept forever. The option of working longer may not be available. It’s best to take such matters into your own hands. Only you can assure a comfortable, secure retirement.
Peter
WHOM DO YOU TRUST?
#trust #retirement #saving
America has an issue with trust, and it’s getting worse.
So said a headline in the Feb. 14, 2016, edition of The Atlanta Journal-Constitution.
The headline was over an article by Gail MarksJarvis, personal finance columnist with The Chicago Tribune, and author of “Saving for Retirement Without Living Like a Pauper or Winning the Lottery.”
MarksJarvis wrote about Richard Edelman, president of the Edelmen public relations firm. He spoke to a group of CEOs about trust, and why fewer and fewer people are trusting big institutions, be they government, corporations or other large entities.
“Economists have been troubled throughout the recovery (from the 2008 economic collapse) that even though incomes were slowly rising and households should have more pocket money now that gas prices are low, spending hasn’t followed the expected trend. Consumers are increasing their saving and being careful about spending,” MarksJarvis writes.
Of course, the CEOS want to know about this because they want to sell more of their products and services. They want to know how to get people to part with more of their purses’ contents.
Remember, a few years before the collapse, we were told that people weren’t saving enough? After the collapse, for many, saving became even more difficult, so we still have a real problem with people not having nearly enough put away for retirement, or even enough for emergency expenses that are crucial to life.
Now that some of those folks are “recovering,” they are beginning to save more. This has to be good for most of us, albeit not so good for businesses.
Who would have thought that the big drop in gasoline prices would have Wall Street in a tailspin? Turns out that companies who went out looking for new sources of oil, natural gas etc., borrowed lots of money to do it. Now, as oil prices have sunk, these companies are having difficulty paying their debts back. That’s having an effect throughout the economy.
Through all this, it seems, Americans have become jaded and have no faith that the institutions of community are looking out for them. It’s certainly OK to be skeptical, but when skepticism turns to cynicism, everyone, eventually, gets hurt.
The lesson here is to look for people and institutions you feel you can trust, and work with them. Continue to spend carefully, and save aggressively. Also know that no matter how much money a corporation makes or saves, your job, if you have one, could still be in peril.
If you are scared, or angry, at what you see happening in the country or around the world, take a breath. Americans still have a great capacity for turning miserable circumstances into wonderful success. If you’d like to be part of that turnaround, and see yourself as success waiting to happen, visit www.bign.com/pbilodeau. You’ll find stories of people from all walks of life who have turned their difficult circumstances into powerful success.
As the title of MarksJarvis’ book suggests, you CAN save for retirement without impoverishing yourself or winning the lottery. It takes discipline and careful spending – things Americans seem to be doing.
Sometimes one has to look hard to find someone, or some institution, he or she can trust to look out for him or her. They are out there, but one has to keep looking and not get discouraged.
Peter
HOW MUCH HOUSE SHOULD YOU BUY?
#housing #RealEstate #OverHoused
Buying a house is never easy, unless you are, say, an investor paying cash.
Most homebuyers need a mortgage, and getting qualified for one is a process.
Peter Dunn, a financial planner, says many people are “over-housed.” It’s a concept of paying too much money for housing, in relation to one’s income. In some areas, housing prices are over the top, and one cannot help paying too much for a house.
But some over-housing is self-inflicted, Dunn says. He wrote about over-housing in a column in the Jan. 18, 2016, edition of USA Today.
He cites the example of Mark and Jennifer, a Midwestern couple in their mid-40s, who decided 11 years ago to build their “family home.”
Mark and Jennifer knew they were pushing the limit of what they could afford, but the bank approved them for a loan. That gave them reassurance, Dunn writes.
“Things spiraled out of control from there,” Dunn quotes Jennifer.
When housing bubbles burst, it’s the over-housed folks who get slammed first. Are you over-housed? Here are Dunn’s pitfalls: if you’ve dumped everything into a house, and have no emergency fund, you could be in trouble. There are also the realities of increased utility costs, home maintenance, homeowners insurance, property taxes etc. If you didn’t budget for those increases, you could be in trouble.
Mark and Jennifer’s home was 2,000 square feet bigger than their previous home. Their utility costs were much higher and, after two homeowners insurance claims, their premiums went through the roof, Dunn writes. Their tax assessment was based on the value of the land alone. When the structure was added, their tax bill tripled, Dunn writes.
Worse yet, the couple hasn’t saved a dime for the future, Dunn writes. If you’ve given up vacations, new clothes and dining out to live in your new home, you are probably OK, Dunn writes. If you’ve given up your current and future stability, you’re in trouble, he says.
Dunn’s rule of thumb: don’t let the bank tell you how much house you can afford. Being house-rich and cash-poor is not a good situation, especially if housing values plummet, as they did in 2008. Your house is a significant investment, but don’t rely on the equity in it to secure your future. You need to be saving and investing regularly.
The folks who have a comfortable retirement are those who lived BELOW their means, and socked money away. If you buy or build a house, make sure your mortgage payment and other expenses leave a portion of your paycheck left over to save and invest.
Taking vacations and dining out occasionally are nice, too, but saving and investing for retirement are a priority.
Of course, there are ways to earn extra money so you can live in that dream house. For one of the best, visit www.bign.com/pbilodeau. You’ll see stories of people who bought their dream home, but not until they had the money – often the cash – to do it.
Remember, too, that homeownership is not for everyone. Though the American Dream may dictate that one owns his own home, give some thought to the life you want to lead before deciding to buy or build. That house could own you, in more ways than one.
In short, do the math before buying or building a home. Make sure the house doesn’t eat too much of your net worth. If you tap out your emergency fund for that down payment, it could come back to bite you.
Just because you think you CAN swing it, doesn’t mean that you SHOULD.
Peter
RUNNING, RETIREMENT, SAVING
#running #retirement, #RaceForRetirement
Road races have become a popular fund raiser for charities.
The Susan G. Komen Foundation’s Race for the Cure has raised millions for breast cancer research, for example.
In its advertising, Prudential Wealth Management has taken a different tack on running to raise funds. It shows a Race For Retirement, in which the runners pledge to put a certain percentage of their income toward their retirement.
If you are one of those in which running a race motivates you to do something, this idea might appeal.
If you are disciplined enough to train for road races to win them, this also might appeal.
But saving for retirement requires a different sort of discipline. One must pledge to save a certain amount from his paycheck every time, without fail, a check is paid. Also, one must be disciplined enough not to touch the money until he reaches the proper age. It also requires the discipline to manage the money, often with trusted professional help.
Many people at or near retirement age today do not have enough money to retire comfortably. Obviously, some circumstances have inhibited their progress. One cannot control what an employer will do to an employee. One cannot control what markets will do to diligently-saved money. But many are not where they want to be financially because they did not have the proper discipline.
Many of us don’t have the interest, and, therefore, the discipline to train for road races. But we all should have the discipline to look after our own financial futures.
As teenagers, we often get jobs to save money for specific purposes, i.e. a college education. We expect those savings to be tapped out by graduation.
As young adults, we should make a pact to take a certain amount of our paychecks to put away into investments for retirement. We may only be able to afford, say, $5 a week at first. A technique to augment that is to add any pay raises to that amount, and learn to live on our original salaries. Some may say that’s easier said than done, and it certainly is. That does not make it undoable.
Life circumstances also change. Some of us get married, have children etc. A disciplined person does not let circumstances ruin goals. Circumstances change, so the disciplined person adjusts tactics to mesh with those circumstances. The disciplined person also doesn’t create circumstances that would ruin his or her goals.
Disciplined people also look for ways to save money on things they need to buy. They may also look for ways to earn extra income to augment their savings.
There are many ways out there to do one or the other. For a way to do both, visit www.bign.com/pbilodeau.
Often, to get something good, one must sacrifice. One must forgo present pleasantries for future enjoyment. Disciplined people NEVER expect the future to be given to them. They ALWAYS expect that a good future requires planning, and doing little things consistently over time, without fail.
Darren Hardy’s book, “The Compound Effect,” illustrates that success comes not from one or two “big things,” but from a lot of little things, plus time.
The lesson: be disciplined. Do lots of good, little things that may be painless, or may even deprive you of some present pleasure. You may need some good advice to select those good little things, so make sure you trust who is advising you.
If running a race will help motivate you, lace up your sneakers and go for it.
Peter
THE GREATEST TIME IN HUMAN HISTORY
#dreamers #focus #BrianTracy
We are living in the greatest time in all of human history.
That’s how Brian Tracy, author of “Eat That Frog,” starts his other book, “Bulls-Eye: The Power of Focus.”
The phrase may give one pause, especially in light of fighting in the Middle East, an economy still unkind to many and the many signs of hatred rearing their ugly heads.
Tracy also says, “there is no reason for you not to be earning twice as much as you are today, or even five times as much.” It’s all about clarity, focus and concentration, he adds.
Some may wonder what Tracy has been smoking. After all, the trend in wages is stagnant, or heading downward. Some people had good jobs six or seven years ago, that are now gone. Some are working part time when they want to work full time.
But Tracy says if you are clear about what you want, you focus on your most important goals and activities and concentrate single-mindedly until you have completed your tasks and achieved your goals, there’s no stopping what you can do.
Certainly, as Tracy points out, those who succeed by and large work harder than most, stay committed to what they want to achieve and put most other things aside. But here’s the thing: most of those successful people started out with no special skills or talents. They learned necessary new skills and didn’t give up when others might have.
In short, these folks were no different from anyone else at the beginning.
The next logical step: anyone can be one of those successful people.
Some are dreamers. Your parents may have criticized people they believed were dreamers, equating them with, say, drifters. But really successful people have big dreams, and are confident enough in themselves to do what they need to do to realize those dreams.
Others, as Tracy points out, are merely wishers. They wish they had more money, better looks, more power, but don’t have the wherewithal inside them to go after it.
Wishers give up when the going gets tough. Usually, they follow with blaming someone else, or circumstances, for their lack of success.
Wishers bail on their dreams when others tell them they’ll never accomplish them.
Dreamers keep at their dreams, because those dreams are more powerful than anyone’s opinion of them.
Perhaps you have a powerful dream, the drive to achieve it but might lack a vehicle to get you to your destination. There are many great vehicles out there. For one of the best, visit www.bign.com/pbilodeau. You’ll find some big dreamers like you who’ve done what they needed to do to get where they want to go, from a place similar to yours right now.
It’s been said that there are those who watch things happen, those who make things happen and others who wonder what happened. When things happen, make other things happen that will get you back on track toward your dream.
As Tracy points out, one can start out with nothing. Dreamers will get what they want eventually by learning the skills they need. Wishers will give up along the way, complain of their fate and make fun of the dreamers. Dreamers never quit.
Peter