- What happens when you hit 60 and it seems like nothing is going right – your health, your finances, even the economy?
- Take a deep breath – then follow Mark Ford’s simple three-step plan to get back on track.
Paul T. wrote me, saying:
I’m about to hit 60, and everything is suddenly starting to go wrong… my business, my finances… even my body! Plus, I’m worried about the economy and how burdened it is with debt. Be honest, Mark. Is it even possible to save myself at this point?
The answer, Paul, is yes. A definitive yes!
But I want to say that I get it. Being busted in your 20s is no big deal. Being busted 40-plus years later is a challenge. And that’s especially true if your body is not giving you the physical and emotional energy you need to make a big change.
What You Can Do in Your 60s (and Beyond)
But first, consider the following:
- Henry Ford was 60 when he created the first car assembly line, which made him rich and changed manufacturing not just for automobiles but also for many other products.
- Harland Sanders, better known as Colonel Sanders, was 65 when he started Kentucky Fried Chicken. As demand for his tasty chicken grew, Sanders opened a restaurant, and then another and another.
- Laura Ingalls Wilder was 65 when she began writing her beloved Little House series. She went on to pen eight total books in the series, bringing her fame and fortune.
- At 70, Golda Meir became the fourth prime minister of Israel – and the first woman to hold the post.
- And at 82, Robert Galvin, retired longtime CEO of Motorola, started the Galvin Electricity Initiative, a nonprofit dedicated to transforming and improving the nation’s power grid to 21st-century standards.
Next, think about this: As of 2017, people reaching age 65 have an average life expectancy of an additional 19.4 years (20.6 years for females and 18.1 years for males).
Add that all up, Paul, and you can see the possibilities!
What to Do About Your Financial Future
Here is an extremely concise three-part plan (really an outline) that should work for you…
First, get your body in working order. You can’t control everything, but you can take charge of three of the most important factors in terms of having an energetic body: eating, sleeping and exercising. The super-short formula is this: Eat and exercise like a cave man and get seven to eight hours of quality sleep every night.
Second, get your mind in shape. Invigorating your body will help a great deal, and you should also practice positivity by developing habits proven to work. Again, the short version is practice smiling and laughing several times a day and pretend to be happy, even when you’re not.
As for the economy, yes, debt burdens our world economy. And, yes, that debt will be paid one way or another. But you are not going to make yourself any richer by worrying about it. The best thing you can do is help the world along one person at a time. And that person is you!
So, third, understand that it is perfectly possible – even likely – to eliminate your own debt and acquire wealth within seven years if you are willing to do the right things.
I can’t give you anything more than another super-short outline here…
You have to start by understanding the fundamentals of creating wealth and disabusing yourself of some of the myths you’ve been sold by the financial media.
Next, you must take responsibility for your future finances and well-being. This is not something you can simply agree to. You must make a serious review of what you’ve done in the past. And you must make a serious personal commitment to change.
After that, you have to curtail your spending, manage your money and allocate your investments wisely. And then you must create a plan to increase your income.
As someone who has retired and gone back to working four times, I’ve become an apostle preaching the gospel of work… not the sort of 9-to-5, grueling, spiritually draining and sometimes humiliating work most people do… but an entirely different kind of work: flexible, empowering, independent and – perhaps most importantly – very lucrative.
I can tell you this: Bringing in extra income is the single most important way you can get rid of debt and become wealthy within seven years. It is the surest way you can get out of the financial pickle you are in and enjoy a comfortable, worry-free retirement.
Being 60-plus years old is not a problem. It’s an opportunity. You’re older now, and that means you should be wiser. You should be able to use that wisdom to make good choices (and some good money).