PART 1 OF 3: How To Develop The Money Mindset To Create The Retirement Of Your Dreams

Hi! I'm Jason Bergquist, the owner, and founder of RetirementOfYourDreams.com.

Today, I want to share with you Part 1 of 3 about how to work on your money mindset to create the Retirement Of Your Dreams.

It starts with Step 1 of the Retirement Of Your Dreams Blueprint™, your Money Mindset.

Specifically, what are you focusing on currently preventing you from achieving your financial goals?

1. Why focusing on a lump sum is costing you.

2. Why no clarity on your lifestyle in retirement is hurting you?

3. Why your financial choices today will hurt your future retirement.

Let me introduce myself if we haven't met yet. I'm Jason Bergquist!

I've been doing this for over 20 years through the ups and downs of the markets.

My whole goal is to help educate people. Help them understand how to set up the retirement of their dreams and bring hope back into their lives.

I realized this was my calling in 2010 when I was going through a divorce. At that time, I was at a low financially, and I realized that I wasn't practicing what I preached.

So, I committed to practicing what I preached and became an independent financial professional and a certified financial fiduciary.

This experience allowed me to always do what's in the best interest of my clients.

Now, I have a team of experts helping me figure out all of the best options that are out there to help you show the path to creating the Retirement Of Your Dreams.

Let's dive into today's topic, the Money Mindset.

A lump sum is only half the story. Advisors may talk about increasing your 401(k), TSP, or IRA to a specific dollar amount, but you need more than that.

What does that number mean?

Instead, I focus on creating a guaranteed income for the rest of your life, no matter how long you or your spouse live.

Let me share an example of a client named Pam.

She had pretty good longevity in her family, so we needed to find out what her guaranteed sources of income were.

The main one that most people have access to is Social Security, but she couldn't turn it on until she was 62 years old.

She didn't have a pension to draw on either. So, all she had was a 401(k), which she had been saving for 30 years of her career.

We needed to determine if she had enough income to live her entire life. Finding sources of guaranteed income is the crux of what I do. 

You need to understand what you want to be able to do in your retirement.

It helps you with that clarity.

What do you want your retirement to look like?

How much money do you need to cover your essentials and do what you want?

It is best to clarify what you want your retirement to do, what you want it to afford you to do with your family, and the nitty-gritty things you have yet to think of.

Does your employer's plan offer a Roth version in addition to the traditional version?

What is the matching contribution you need to make to receive the company's contribution?

For my client Pam, contributing to her 401k was the only retirement savings plan she knew then, and it worked out for her.

However, better choices may have been available if she had been more informed. The critical takeaway is to focus on guaranteed income, not just growing your nest egg in retirement.

Could you have made better choices in the past?

Possibly, but we have to work with what we have.

To recap, in Part 1 of our 3-Part Series on Money Mindset, we discussed 3 teaching points.

1. Why focusing on a lump sum is costing you.

2. The importance of having clarity on your lifestyle in retirement.

3. Why your financial choices today will impact your future retirement.

Understanding your Money Mindset is critical to achieving your financial goals, and I invite you to request a FREE Retirement of Your Dreams Call to learn more.

… where I share my blueprint for creating the Retirement Of Your Dreams.

And be sure to tune in next week for part 2 of our 3-part series on Money Mindset.

Thank you for considering Retirement of Your Dreams as your partner on your financial journey!

I'm committed to helping you achieve the retirement of your dreams,

Jason