"Stes to Accelerate Your Retirement" - A "Life and Money" article.

Written by:

Frank Sisco, CPA, PFS, 30 Mill Road, New Rochelle, NY 10804

Home office - 914.740.4422, Cell - 914.589.1013; Email – ideasmoney@aol.com

www.LifeAndMoney.com

(Word count = 577 word count plus 64 words for About the Author)

In last month's column, I proposed that many baby boomers, who find themselves in a squeeze of time and money between parents and children, should consider accelerating their retirement, by building a sizeable nest egg rapidly from which a sufficient income could be earned. Then they could devote the needed time to helping family members and getting on with their life purpose, which may include creative expressions and giving to others. In that column, I shared as an example my own plans to expand significantly the investment side of my business and sell a major part of it, creating a significant income stream earnable from the sales proceeds, while retaining a financial planning consultancy through which I could continue helping clients on a part-time basis. With the freed-up time, I plan to devote more time to my family, including aging parents who have health issues, and to finalize several creative projects that I've never finished due to the necessity of earning a month-to-month living. Here are several steps to consider in order to accelerate your retirement;

(1) Take stock - When reevaluating your life, reflect on what has truly been important to you over the years, and what you want from the next decade or so. Be honest with yourself about your skills and your limitations. Expand your soul-searching by talking with friends and family. Focus on your happiness and those in your immediate circle.

(2) Create a new path - In order to make real change in your work life, you need to pull out what it is that you do very well and with passion, and then create how you can use your skills and winning formula to bring significant value to the marketplace, which may reward you generously with money. If you're in a major corporation currently downsizing, perhaps you should be proactive in getting the work of you and your department outsourced to you as an independent contractor. At first it may seem difficult to garner the support of colleagues and management, but it could be just what the company is considering. Is not this the way Michael Bloomberg started his business? Befriend the consultants and CPAs who advise top management. If you are a professional, think of what specialized services you could offer your favorite clients and then develop your own division or separate company to capitalize. Attract similar clients and like-minded cohorts to build your organization. If you are a small business owner, decide what aspects of your enterprise are most valuable and could be attractive to a buyer and then expand that portion, carefully shedding the rest. Share your plans, and even enroll potential buyers of your business early in the process so they see how you can be reliable when you dream, plan and implement, making the exit deal you negotiate even more lucrative.

(3) Empower - Once your plan is developed, stay focused on people (customers, clients, associates employees) and lessen the distraction of peripheral ideas. See people as agents of the power of God (or the universe, or whatever name you use for a higher force) in helping you realize your objectives, and then act accordingly, giving unconditionally as well as getting. By reaffirming your goals of early retirement with the people around you, your band of helpers will grow. Be flexible. While traveling on your new path, appreciate that the stones, fallen branches, and inclement weather you encounter may actually be nudges to strengthen you. Happy questing!

About the author:

Frank Sisco is a CPA, Personal Financial Specialist and video journalist (see www.VideoVoom.com) who writes on topics related to life and money. You can contact Frank by email at ideasmoney@aol.com or by phone at 914.589.1013 in order to express your opinion about this article or to obtain copies of prior articles. Frank, his wife and daughter reside in New Rochelle, NY.