In a “Chunk” or by the “Month?”

By Frank J. ZakrockyFOXBusiness

When it comes to money, we as human beings have a lot in common. We all like to dream.

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We dream about hitting a progressive jackpot (worth millions) at the casino. We dream of receiving that inheritance check for millions after a long-lost relative passes away. We dream about being the only winner of the lottery Powerball game. Case closed. No more worries. Financial independence. We’ve arrived!

Not so fast, grasshopper! We then wake up. We see that nothing has changed. After all, it was only a dream. Now while it is good to dream, it is also good to have at least one foot somewhere in reality.

The real question is: What would you do if you did receive a “chunk” of money? Would you…

• Throw the dice with your money for potential big gains and risk loss of principal? • Invest in such a way to protect your principal as much as possible?

Does this solve all your money problems? After all, you’ll still need income to live.

Can’t you just take money out monthly to live? Absolutely. Positively. However, what happens if you live too long? Or worse, what happens if your investments flounder instead of flourish? Would your lifestyle be affected if you run out of money?

Most middle class people live with more stress than wealthy people do. Why? Because most wealthy people know exactly what their investment money is doing. Ups and downs of the market don’t affect them. Would it be surprising to you that most wealthy people like “safe options” when it comes to investing their money?

Most middle class working people have money invested in their 401(k)s. Everybody is looking to get that money to work for them. Most throw the dice. A lot of people go for “the gold.” Others have scientific “strategies” for allocating their retirement dollars. When all is said and done, is your money at risk? Can you lose some or all of your money? If the answer is yes, the question is, why?

If it is true that most wealthy people like “safe options” when it comes to investing, why shouldn’t the average middle class working person consider the same thing? If you want a comfortable retirement with minimum stress, you have got to get involved.

In our present economic situation, you need to consider cutting, cutting, and cutting your expenses (did I repeat that enough?). Pay off your highest interest rate debt with lower rate debt. Refinance your house and pay off your non-tax deductible bills with money that is tax-deductible. Eat out less. Buy less. Try to do with less. If you cannot make more money on your job, consider trying to get a part-time job to supplement your main income. Or quite possibly try to find a part-time business that would take minimum capital to start and get going. Get creative. Think outside the box.

And once you have more, save more. Don’t SPEND IT!

Safe option investing is something everyone should really look into. If you are missing the excitement of the “gambling mentality,” consider buying one lottery ticket a week and start dreaming.

What if that safe option investment came along with a guaranteed income for life plan? What if that plan would pay out an income stream that you could never outlive even if your value went to zero? Oh, wouldn’t that be nice?

Retirement comes up very fast. Hopefully it can last a long time.

If you are already retired, hooray for you. If your retirement is in a big “chunk,” find out how you can transform that into a forever lifestyle every “month.”

Stop focusing on the “chunk” and figure out a way that you can get income every “month.” You will then live like the wealthy and sleep like a baby.

Find out how long your money will last in retirement. Get your FREE “How Long Will It Last” retirement report simply by contacting Frank J. Zakrocky at