Wednesday, July 14, 2010

Retirement Strategies 15 July 2010

Bernard Kelly - Australia's Retirement Strategiest (right)


I’ll pay you $5,000… for each successful referral that you generate.

For some time now I have been paying my private clients $1,000 for successful referrals, and $5,000 to professional referrals – such as accountants, solicitors etc.

Now I’m paying $5,000 to everyone.

So feel free to find out more about joining me as a Referral Agent. (We could have a lot of fun together. And you could make a lot of money - this year, next year, every year.)

Your role is simply to generate leads – I’ll do the rest. If they proceed, you’ll get paid.

I’ve got a one page business plan for this profitable hobby if you want it.

Phone me – Bernard Kelly – anytime.
My mobile is 0414 778 518 email
I’m Australia’s Retirement Strategiest®


If you like novels, you probably have a house full of them.

What better way to capitalise on this hobby by starting a bookstall at a weekend market?

The costs are not great - $25 per day – and you have an initial supply of stock. Just make sure that you sell for a minimum of $5, and $8 for popular authors. The only equipment that you’ll need is a collapsible camping table.

Then to replenish your stock, just go to some local charity and welfare shops where you will be able to pick up good novels for around $1.

As your knowledge of this niche business grows, you could think of moving indoors. Just look for a vacant shop where there is some foot traffic – such as at a bus terminus – and gradually move in there, making sure that you bring your established clients from the weekend market along with you.


In an US study by Hartford Financial Services, it was estimated that about 18% of 65-year-old men today will live to age 90 or beyond.

The same study suggests that 29% of 65-year-old women will live past age 90.

Put another way, that’s one in five men and one in three women who will reach 90.

The statistics are probably much the same for Australia.

This means that you have to plan for your retirement, because once you opt out of the workforce you won’t have an earnings capacity.

You may not be fully aware of this predicament because you are still in the workforce, but the point is that retirement is something that you cannot avoid.

If you would like me to help you explore your options for 25+ years of comfortable retirement, contact me – Bernard Kelly – anytime. My email is

I noticed an interesting debate in the “New York Times” 2 June 2010

One contributor was Ken Dychtwald, a gerontologist, psychologist and author of 16 books including “Age Wave” and “A New Purpose: Redefining Money, Family, Work, Retirement and Success.”
He believes we are on the verge of entering what he calls the fourth era of retirement. The first era lasted about 100,000 years and ended in the early 20th century. During that era, you worked all your life. And you know what? That was not considered a bad thing.
But then it changed abruptly. Around the 1920s, the second era of retirement began, landing firmly in the 1930s with the development of Social Security. This program had two purposes: to create a thin safety net for older adults in a period of economic frailty; and secondly retirement would provid an institutional process whereby older people would be removed from the workforce to make room for the young.
Then the third era of retirement emerged during the 1960s and ’70s, when we began to think of retirement as the Golden Years of life. In fact, the younger you retired, the more successful you were perceived to be.
At the same time, longevity began to rise for adults, so the post-work period became a stage lasting not three or five years, but 15–20 years or more. Ultimately, people began to think of retirement as a birthright — an entitlement. That era, which has lasted a quarter century, is fraying at the edges now, and Dychtwald believes it’s coming to an end.
The reason is that the modern retirement experiment is simply not working for most people. About half the retirees in the US say they’d rather be working, and a lot of retirees are just plain bored.
So in the years to come, Dychtwald expects to see more older men and women starting their engines and jumping back into the work force, and maybe even having the most productive years of their lives.
He believes we’re currently at the tipping point for the transforming of retirement into a new model: a time for personal reinvention, new beginnings, lifelong learning and a cyclic blend of work and leisure.
Dychtwald doesn’t think people want to be old for longer. He thinks they want to be young for longer and middle-aged for longer. Most people would prefer to live long, healthy lives without being any age at all, reflecting a new kind of ageless aging.

When you start thinking about the lifestyle that you dream of for your retirement, here are some questions you will want to consider:

- Who am I right now?
- Who do I want to be?
- What are my personal strengths?
- What do I want most out of life?
- What is my real aim in life?
- How soon do I want this life?
- What areas do I need development?
- What do people criticize me for most often?
- What have I done to improve myself this year?
Really take the time to consider each question in depth. You have so much to gain from it.
However you will soon realise that you’ll need an income to fund this lifestyle – and my suggestion would be, of course – a portfolio of residential investment properties – but if you don’t have enough birthdays left, you should then think about taking whatever hobby you have and turn it into a “profitable hobby”.
We’ll all need something to supplement our superannuation.


A recent study by the US based Civic Ventures predicts many job opportunities suitable for older adults are opening up in health care, education, the environment and the nonprofit sector in general.

These are growth industries where maturity, experience and wisdom are required, and so are expected to play a part in future “planning for retirement” programs as the concept of encore careers continues to develop.

Society is coming to realise that working until age 70 is no longer a figment of the imagination. Life expectancy continues to improve, there are (social, health and financial) benefits in continuing employment, and we have to be careful not to consume our super funds to quickly.

More detail:

NEW ON-LINE RESOURCE is all about our generation: what we’re interested in, what we think about things, and what we like.
It’s an online community where modern seniors can engage in civil discussions and activities within the comfort of their own generation.
The site strives to deliver interesting articles, discussions, videos, and activities that inform, intrigue, comfort, and entertain.

Let’s be open and upfront here – we’ll all need supplemental income after retirement.

And the easiest way to do that is by learning a new skill.
Many senior citizens are working online, but many others could work online if they had learned internet skills at 55.
So pursue a passion, follow a fancy, and start early to see if it is profitable.


The average employee will need 15.7 times their final pay in retirement resources to maintain their current standard of living during retirement, according to a new analysis from Hewitt Associates, a global human resources consulting and outsourcing services company.

So if your final income is $80K, you’ll need resources of $1,256,000 to be able to pay yourself $63,000 in retirement.
But if you work an extra two years, to age 67, the Hewitt multiple reduces to 14.4 times and you’ll then only need $1,152,000 to pay yourself $63,000 pa.

The explanation is that your “estate event” will still occur on schedule, but you’ll be in retirement for two years less.

HOWEVER – in my opinion these straight line calculations ignore the revenges of inflation, and also the cost of medical and hospital care when we are 80-85.

My solution – a portfolio of residential investment properties – has stood the test of time. If you want me to help you explore your options, contact me Bernard Kelly anytime. My mobile is 0414 778 518


I’ll be at the Melbourne Retirement & Lifestyle Expo at the Caulfield Racecourse 10-12 September.
And also at the Leisure & Lifestyle Expo in Perth (Claremont Showgrounds) 29-31 October.

I look forward to meeting you if you can make either event.


Some kind people want to pay me for this service.

Feel free to go to my membership site and pay $110 for a full membership

About Bernard Kelly:
Bernard Kelly BEcon MBA CRPC Australia’s Retirement Strategist®, is a highly sought-after advisor, retirement authority, thought-leader, author and radio commentator because he makes the complicated and mundane topics of investing and retirement fun! Bernard has over 20 years experience providing families with financial thought. He is the author of Live Your Dreams in Retirement, Property Investing for Couples, Goolwa by Breakfast and Raising Decent Kids into Substantial Wealth and publishes a fortnightly newsletter that reaches thousands of subscribers worldwide.

19 Prospect Street, Box Hill 3128 Australia. Tel 61-3-9899 8577 mobile 0414 778 518


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