Those who have devoted their lives to the service of others – first responders – have traditionally enjoyed a strong work union and, if not lucrative, at least comfortable pension. These days, we’d hate to be the ones betting on that to continue. Government funding at any level seems perilous at best. With the pool of payees rising and payors dwindling, no one really knows how programs like Social Security or Medicare will be paid for in the coming years. Same goes for local police and fire departments, as well as hospitals.
Your pension could be next to fall under the ax to some extent.
The way to live out your golden years is to take matters into your own hands, a concept you’re probably familiar with on the job. Don’t sit back and let the stock market and your broker drag you all over the online casino place. One of Jason Hartman’s 10 Commandments for Successful Investing is to be a direct investor. Simple in concept, this idea is powerful in execution and could mean the difference between an “okay” retirement and financial freedom.
Direct investing means there is no middleman you rely on to implement your investment strategy. Heroic Investing thinks that having an investment counselor to bounce ideas off is a great idea, but only you should have the power to pull a trigger on a deal. Additionally, you MUST fully understand every part of your portfolio and take an active role in monitoring it. If this sounds like a lot of work, it’s not. As a direct investor, you’ll spend much less time tending to financial matters than you do on the job right now.
And that’s what retirement and a healthy pension is supposed to be about, right?