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  • Bob Brooks

Will I Be Able to Retire?

There are three types of Retirement Mindsets. The first type is retirement confidence; the second type assumes the likelihood of retirement, and the third type assumes that retirement is unlikely. What is the difference, you ask? Each of these types understands retirement differently. Allow me to elaborate.

Those who know that they will retire have a plan and strategically carrying it out.

It has been my experience that most people do not have a plan because they think it is too much of a time commitment to pursue. Quite frankly, some people avoid acknowledging the reason and go on about their lives and live with the assumption that everything will work out. In reality, there are three simple advantages of planning.

A Plan is available for everyone; however, creativity is uniquely yours.

There are two misconceptions about obtaining a retirement. The first is that retirement is only for those who have money, and the other is that it is too late for me. That is far from the truth. Let's say that you are painting a picture. You have two choices: You can either paint a canvas outlined with numbers or paint a blank canvas. Painting by numbers has benefits: It offers you the opportunity to paint a picture outline with vision. The blank canvas is your interpretation of retirement. You have the freedom to be creative. Most plans are like painting in the lines, which only applies to people with specific characteristics. On the other hand, getting creative and creating a plan based on your vision is catered to your future intentions.

A Plan contains PLAN A and PLAN B

The what-if’s: What if the stock market crashes; What if my spouse dies prematurely; What if we never get out of debt? Address these worries in your plan. We want to think that we will carry out Plan A, but the function of a plan is to design a contingency if things go array. What is your Plan B?

A Plan Gives You Peace of Mind

The old saying goes, “What you don't know won't hurt you.” Only if that were true, it might resolve a lot of problems. With that said, you can assume that your life will work itself out. But it would behoove you to plan for retirement and back-up those assumptions and positive expectations with some facts and contingencies. The only thing being conveniently uninformed does for you is create worry deep in the back of your mind. Why live a life without peace of mind?

You are probably wondering at this point, where can I start the process? You can start with your financial advisor. If you do not have one, I would like to step in and help you get that peace of mind. We can start a conversation by scrolling to the top of this page and clicking on “Ask Bob,” or by contacting Thia via phone: 972-386-0384 or email: We have a simple process that anyone can go through to create a plan once and for all!

Bob Brooks

Listen to the Prudent Money Radio Show heard daily on 91.3 FM at 3 PM CST

(Click on “Radio Show,” then on the music note)


16633 Dallas Parkway, Suite 275

Addison, TX 75001

Phone: 972-386-0384

Fax: 972-386-9787

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