Archive for October, 2016

“RETIREMENT: MAKING THE TOUGH CALL”

October 27, 2016

Retirement doesn’t just happen.  And, remaining retired doesn’t just happen.  There are tough calls from the start and  continue  through the accumulation period to reach your retirement goals.

The first tough call is the decision to develop a retirement plan.  Without a plan, you will face many difficult decisions during the accumulation period.  Many people fail because of an inability for making a tough call.

Here are some of the guidelines for making a tough call:

  • Tough calls are required to develop a plan for retirement.
  • Do your homework.  Research can make or break a decision.
  • Set a deadline.
  • Make sure the timing is right.  The earlier you start, the more successful you will be.
  • Seek counsel.  Choose your team (attorney, CPA, and financial advisor) together by selecting the right people
  • Make your decisions on the current economic conditions and research.
  • Develop a plan that will enable you to make the tough call when circumstances and  goals change.
  • Flexibility in your retirement plan will allow for adjust during the accumulation period and remaining retired.

The most exciting part of my job as a financial advisor, is counseling the future and/or present retiree in making the tough calls.

Visit my website and complete the “contact” information and I will contact you and be available to assist you in making these tough calls.

http://burrowsfinancial.thebetterretirementplan.com

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Jeremiah 42:1-43:13

Most leaders don’t look forward to  making tough calls.  Jeremiah had to make a tough call when his people rejected God’s solution to a dilemma.

Many leaders fail because of an inability to make tough decisions.  Consider some of the guidelines for making a tough call:

  •  Accept tough calls as a requirement of leadership.
  • Do your homework.  Research can make or break a decision.
  • Don’t procrastinate.  Set a deadline.
  • Make sure the timing is right.
  • Seek counsel from the right people.
  • Make your decisions on the principles and values you believe in.
  • Develop systems that enable you to make a tough call.
  • Understand the emotional expense of making a tough call.
  • Recognize your part and  God’s part.
  • Pray for discernment and courage.

Have a great day!

“RETIREMENT: POOR DECISION-MAKING SKILLS LEAD TO DISASTER”

October 25, 2016

I have mentioned in prior posts that the person looking forward to retirement and/or the person already in retirement needs a “Retirement Team.”  (Retiree, attorney, CPA, and financial advisor)  This team must possess good decision-making skills and work together to achieve the goals of retirement.  This is an  ongoing process in developing a retirement plan with the flexibility to make adjustments to assure the goals are met and the retiree will be able to remained retired.

The following are a few of the decision-making skills:

  • Maintain a vision of the big picture.
  • Gather all the information possible.
  • Listen to those closest to the situation.
  • Narrow the best options.
  • Imagine the outcome of the best options.
  • Note the ramifications to the decision.
  • Make choices based on the following criteria:

* Which best achieves the goals?

* Which benefits all people involved?

* Which aligns itself with the mission to be accomplished?

Retirement doesn’t just happen!  If goals are not determined and formalized into a plan, it is very improbable to realize when and if they are achieved.  There are no “cookie-cutter” plans to adopt to achieve the results you desire.

Put your team together and be able monitor the progress as you look forward to retiring and remaining retired.  During this monitoring process you will be able to make the necessary adjustments due to changes in circumstances and the “ups and downs” of the  economy.

Visit my website listed below and complete the “contact” information.

http://burrowsfinancial.thebetterretirementplan.com

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(Jeremiah 40:5-41:2)

The Babylonians appointed Gedaliah the governor of Judah and put him in charge of the poor who had not been taken into exile.  But the man failed to develop good decision-making skills.  In fact, he  made one disastrous decision because he neglected to process available information.

What could Gedaliah have done to better approach the decisions before him?

  1. Maintain a vision of the big picture.
  2. Gather all the information possible.
  3. Listen to those closest to the situation.
  4. Narrow the best options.
  5. Imagine the outcome of each option.
  6. Note the moral and  spiritual ramifications to the decisions.
  7. Make choices based on the following criteria:

* Which best reflects the mind of God?

* Which  benefits the whole of the people?

* Which aligns itself with the mission you are to accomplish?

Have a great day!

 

“RETIREMENT – WISDOM & UNDERSTANDING”

October 20, 2016

Developing a retirement plan that will accomplish the goals of the retiree requires leadership.  Leadership must seek wisdom and understanding.  The leadership I speak of is the leadership of the retirement team.

Who are the members of this “retirement team?”  The leader of the team is the person who is planning for their retirement.  The leader’s responsibility is to put together the rest of the team.  The professionals needed are:  Legal, Accounting, and Financial Advisor.

After selecting the legal and accounting professionals, the financial advisor you should select should have the following qualities:

  1. Think bigThe plan must provide for funding, retirement, and remaining retired.
  2. Think other people:  Bring the family and other professionals into the planning.
  3. Think continually:  Don’t discontinue planning and be satisfied with today’s answers.
  4. Think bottom line:  Always be flexible to achieve and see the results of the planning.
  5. Think continual growth:  Always adjust to the current conditions and make improvements to the plan.
  6. Think without lines:  Always be willing to think outside the box to accomplish the goal.
  7. Think victory:  Look forward to the retiree reaching the goal and enjoying the fruits of  the planning process.
  8. Think intuitively:  By experience, have the sense of what will work.
  9. Think servanthood:  Realize the value and pleasure of serving and adding value to the retiree.
  10. Think quickly:  Evaluate quickly the needs of the retirement plan as it relates to the current economic conditions see possible answers available in the marketplace.

If you haven’t selected your team, visit me at my website and complete the contact information.

http://burrowsfinancial.thebetterretirementplan.com

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The Irony of Spiritual Leadership:  Get Understanding but Don’t Lean On it.      (Proverbs 3:5,6)

Proverbs poses an apparent paradox in spiritual leadership.  We are to get wisdom and understanding, yet we are not to lean on it apart from the Lord.  Even  good wisdom divorced from God can become a snare.  So how are Godly leaders to think?

  1. Godly leaders think bigThey realize God’s vision is usually bigger than theirs.
  2. Godly leaders think othersThey always include others in the mix.
  3. Godly leaders think continually:  They’re not satisfied with today’s answers.
  4. Godly leaders think bottom line:  They want to see results and fruit.
  5. Godly leaders think continual growth:  They want to keep improving.
  6. Godly leaders think without lines:  They let God outside of the box.
  7. Godly leaders think victory:  They want to see God’s rule come to earth.
  8. Godly leaders think intuitively:  They have a sense of what will  work.
  9. Godly leaders think servanthood:  They want to serve and add value to people.
  10. Godly leaders think quickly:  They evaluate quickly and see possible answers.

Have a great day!

“RETIREMENT – PERSPECTIVE & VISION”

October 19, 2016

Retirement planning must include our personal vision and passion extended far beyond our own lifetime.  It includes long-range planning and preparation for the development of  a retirement plan that not only provides for retirement, but requires for provisions for remaining retired.

Why should it extend far beyond our own lifetime?  The retiree must include in the plan for the subsequent needs of the spouse.  This requires the contingencies that must be considered that may occur regarding age, health, and unforeseen emergencies, etc.

One of the  worst enemies of retirement planning is the frustration of not knowing where to  start.  Procrastination can take control and cause us to “not do today what we can do tomorrow.”  Many times tomorrow never comes and we arrive at retirement without reaching the goals we only thought about.  Thinking about these goals doesn’t go very far without action on our part.

So, how do we get startOne of the  worst enemies of retirement planning is the frustration of not knowing where to  start.  Procrastination can take control and cause us to “not do today what we can do tomorrow.”  Many times tomorrow never comes and we arrive at retirement without reaching the goals we only thought about.  Thinking about these goals doesn’t go very far without action on our part.ed?

  • Employ the services of an attorney for the preparation of your will.
  • Obtain the services of a Certified Public Account for getting your “financial house”   in  order.
  • Consult with a reputable financial advisor to begin developing a retirement plan detailing your retirement goals.

At this point, are you through with the  process?  NO!  You have only begun, but you are way ahead of many people today.  You may be ahead of  the majority of the people.  As you travel through the years to retirement, you will face many changes and this requires having a retirement plan that is flexible and provides for the ability to make adjustments not only before retirement, but after retirement, and yes, even after death.

You are not the only one needed on your retirement team.  You need the professionals listed above, and most importantly, you need your spouse.  You may want to include your children in order to keep them informed of your retirement goals.

START TODAY AND PUT YOUR TEAM TOGETHER. 

When is the last time your had a call from your financial advisor?  When is the last time you had a review of your financial condition?  What changes need to be made in your  will?

Is your team functioning?  If not, some changes may be in order.  If you have an old plan that hasn’t been reviewed late, you may need some very important changes.  If you are retired and don’t see how you can remain retired, you definitely need some changes (you need to remain retired).

Your must assume the role of leader and see that your retirement team is in place and functioning.

Help is available.  Visit the website below and complete that contact information.

http://burrowsfinancial.thebetterretirementplan.com

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1 Chronicles 22:1-19

King David’s personal vision and passion extended far beyond his own lifetime.  He could see the bigger picture.  Although he knew Solomon would build the temple, he did some long-range planning and preparation for its construction.

David organized the team to make preparations for the construction of the temple.  He appointed stone cutters, gathered cedar logs, acquired mounds of iron for the nails, and even gave Solomon a solemn charge to finish the job.  This is the kind of thing that separates leaders from followers.  Leaders see…

  • Beyond Others:  The look past their own future to the generations that follow.
  • Before Others:  They see what must happen long before others are ready.
  • Bigger Than Others:  They have a larger than usual vision of what can happen.

David not only prepared the materials for the construction of the temple and challenged his son to faithfully build the Lord’s house, but he also commanded all the leaders of Israel to help Solomon complete the task.

Worthy visions outlast those who cast them.

Have a great day!