How One Financial Planner Saves for Retirement

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By Damon Gonzalez

My name is Damon Gonzalez. I am 38 years old and if everything goes as planned, I will be financially independent in the next two to five years. I fortunately love my job and hope to work into old age.  Financial pundits make forecasts and try tell you what stock they think you need to own for the next quarter, but have you ever wondered what they actually do with their own money?  Although I am a little uncomfortable sharing, I thought it would be refreshing to share how my wife and I have planned for our own retirement.

Invest in Yourself

All honest work is valuable, but it is hard to build wealth on a meager income. Every once in awhile you will read a story about a cleaning woman who gave a substantial amount of money to charity, or a man who died with $7 million worth of gold in his $100,000 house. These stories fascinate us because they are so rare and unexpected. There are ways to build a successful retirement on almost any income, but having a higher income obviously helps a lot.

If you want to build wealth, your best investment is being the best you that you can be. That means getting enough sleep, eating well, not abusing drugs and alcohol, and working hard. An education (not just going to school) that allows you to become a professional or start your own business is probably the best money and time you will ever spend. Don’t shy away from investing in yourself.

Related: Increasing Retirement Income Through the Power of Tax Deferral