Investing

Your New Decade’s Resolution

By John Del Vecchio  |  January 13, 2020

It’s a new year. And a new decade.

You have to admit, that carries a lot more weight to it than simply turning the page on one more calendar year. We’re going to be classifying music in a different way when we look at this decade. And TV and movies. You name it. This is now the 2020’s.

But much more important than pop culture, we are going to be looking back at how our decisions this decade set us up for the future, financially.

Forget New Year’s resolutions. It’s time for the new decade’s resolutions.

It’s never been a better time to get started on your retirement. In writing my latest book, Unbounded Wealth, I was struck by research that shows investors simply don’t carry out the most important task needed to build a comfortable retirement.

Investors simply don’t take action.

Unfortunately, about half of Americans can’t fund a $500 emergency. The typical family has about $60,000 saved, which is a good start, but nowhere near enough. What with all the McMansion’s and gas-guzzling SUVs, living the “American Dream” is way too expensive. There’s not even enough socked away for one rainy day.

Baby Boomers, a group of 80 million folks, have just $136,000 saved for retirement on average. Each day, 10,000 of them hit the retirement ranks. What’s scary is that many Baby Boomers hit their peak earning years during a massive bull market in the 1980s and 1990s.

Where did all that money go?

It went to consumption. We are weighed down by way too much “stuff.” The average household has 300,000 things. Three hundred thousand!

Even plenty of rich people live paycheck to paycheck in this country. According to a Nielsen study, 25% of families making $150,000 a year or more live paycheck to paycheck.

That’s crazy!

No one earning a decent paycheck should be in that situation.

Unbounded Wealth is my 12-step plan written in plain English to get you started on the path to a comfortable retirement – and stay there.

It’s the plan I have used to build a multimillion-dollar portfolio. It’s a plan that can work for you too. However, you simply need to get started. Most people make resolutions to start the year. Then within two weeks they break them and are back to their old habits.

Don’t let this be you. Get started today. It doesn’t take a lot of money. It doesn’t take a lot of time. It doesn’t take a genius IQ. Heck, if it was about smarts then many people with good jobs wouldn’t be living paycheck to paycheck.

You control your own destiny. It’s right there in front of you to seize it. Make that commitment now, as we begin a new decade, to end it in a lot better shape financially than you started it. Your older self will thank you for it.

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John Del Vecchio

John Del Vecchio is the author of the bestselling book, Rule of 72: Compound Your Money and Uncover Hidden Stock Profits and What’s Behind The Numbers: A Guide To Exposing Financial Chicanery And Avoiding Huge Losses In Your Portfolio.

As the in-house stock market guru and forensic accountant for Dent Research, John stood on the shoulders of the great David Tice, James O’Shaughnessy and Dr. Howard Schilit, and built a framework of algorithms and a multi-factor grading system that has made him one of the more successful short-sellers around.

John is also the executive editor of our Hidden Fortunes newsletter and our trading service Small Cap All-Stars.

He graduated Summa Cum Laude from Bryant College with a B.S. in Finance and was awarded Beta Gamma Sigma honors. He earned the right to use the Chartered Financial Analyst designation in September 2001.MORE FROM AUTHOR