The idea of saving a large nest egg for retirement is psychologically ineffective and outdated.   Instead, you should be thinking about cash flow.  What is your “Freedom Day?”  It’s the day you wake up and can go to work, but don’t have to.   The author of Freedom Day, Jeff Kikel, joins Paula and Jon today.

Jeff’s background is as a traditional financial planner, and he experimented with the “Freedom Day” concept himself before employing it for others.  The first step is figuring out your “MRI”- Minimum Required Income.  Once you can make 125% of that number from various revenue streams, work becomes optional.  For example, if you need $3,000 per month, and you’re up to $3,750, you’re “free.”

This income can come from a combination of investment returns and withdrawals, rental income, side hustles, creating an online course, or even social security if you’re old enough

As you work toward your Freedom Day, Jeff works with you on a bucket list.  Figure out what’s on your bucket list, and realistically, what each item is going to cost.

Not everyone can change their retirement mindset to one of Freedom Day.  And Jeff does work with traditional retirement planning as well.  But for those who can embrace this concept, it can be life-changing.

For more about Freedom Day, connect with Jeff on his website: https://www.freedomdaywealth.com/

Email Paula Christine at Paula@PaulaChristine.com. You can also learn more online at www.PaulaChristine.com.