When and how should I start preparing for my retirement from SFI?

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9265 votes
Wayne Crocker, Aff (Missouri, US) Top Author Forum Guru 9/27/2015 3:24 pm
Affiliate since: 05/10/2012, Power Rank: 99999999 | Read Wayne's 236 other Ask SC answers
Retirement – That used to be the American dream, work hard for 20 to 30 years and then retire on your pension from where you worked all your life or at least retire on the money you have saved during your working years.

One of the main problems that people are facing is that retirement from a regular 9 to 5 job doesn’t bring enough income to enjoy life as a retired person. As a matter of fact you may not even be able to think of retiring until it is mandatory for health
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9257 votes
Prince Chukwuemeka, Aff (Nigeria) Top Author Forum Guru 10/2/2015 10:03 am
Affiliate since: 09/25/2020, Power Rank: 99999999 | Read Prince's 92 other Ask SC answers
Retiring from SFI if you wish to do that begins immediately you signed up to become an affiliate. When you setup your goals and your profile you indicated the "why" you were in SFI to be (1), getting out of debt. (2), improving your standard of living. or (3), becoming wealthy.
You also stated in your goals what kind of automobile you want to drive, what you want to build and in what city or part of the world, how you want to spend your time IF you had unlimited resources.
These
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9244 votes
Jelena Todorović, Aff (Serbia) Top Author Forum Guru 10/3/2015 6:07 am
Affiliate since: 06/18/2015, Power Rank: 99999999 | Read Jelena's 5 other Ask SC answers
Hello!
Interesting question.
I never thought about my retirement from SFI, but your question made me to think about that.
I could only write about my decisions, and as always, in this job, it is all about you to decide.

I think that there is always something to do here.
Even if I manage to have strong team, great down line members, I could never leave my
ECA store, without any article and I could never leave my team without any support.

Retirement
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9215 votes
Gilbert Mills, Aff (New Zealand) Top Author Forum Guru 9/27/2015 7:46 pm
Affiliate since: 08/29/2013, Power Rank: 308 | Read Gilbert's 79 other Ask SC answers
When and how should I start preparing for my retirement from SFI?

Well, the short answer is NEVER.

The beauty of SFI is that we can keep operating our SFI business until the day we die or our health becomes such that it is impossible for us to continue. At which time our SFI business will become an asset in our estate that we can pass on to our children or someone else to continue.

But the great thing about this question is that it encourages us to think long-term.
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9196 votes
Sandra Muishi, Aff (Zimbabwe) Top Author Forum Guru 10/2/2015 7:45 am
Affiliate since: 10/25/2014, Power Rank: 99999999
When?
Most professions have a retirement age of around 55 years but with SFI you are your own boss and you decide when you want to retire! The good thing about SFI is it allows you to continue earning long after you have stopped working due to the residual income created by yourself when you built your team. There your retirement date is whenever you are satisfied with your monthly income and know you can comfortably live off it! It can be 5,10 years or less but it all depends entirely on what
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9194 votes
Diane Allinson, Aff (United Kingdom) Top Author Forum Guru 9/26/2015 3:32 pm
Affiliate since: 04/14/2014, Power Rank: 99999999 | Read Diane's 76 other Ask SC answers
Hi Maria

My first thought when reading your question was that I might change the wording slightly to say "When and how should I start preparing for my retirement WITH SFI?" and the answer to that question would be NOW!

To say "retirement from SFI" implies an intention to leave, to stop what you are doing, but from what I see of SFI, leaving is not necessary, especially if it is providing a steady retirement income. I know we have many affiliates here who
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9184 votes
, () Top Author Forum Guru 9/28/2015 4:30 am
Affiliate since: 12/31/1969, Power Rank: 99999999
Every single day you should be preparing for your retirement from SFI. What you do today - and tomorrow, and the next day and each day beyond that - determines how soon you may retire from SFI, and how good that retirement may be.

As much as SFI is enjoyable, people generally work with something in mind: retirement, or less time working, allowing them time to enjoy the rewards of their efforts, during the plenty of time that their retirement affords them. I would think we all want this
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9166 votes
Pamela Butterfield, EA (Bermuda) Top Author Forum Guru 9/26/2015 8:12 pm
Affiliate since: 11/24/2012, Power Rank: 211 | Read Pamela's 32 other Ask SC answers
Personally, i say Never!

SFI is just the opposite, that's if you truly want to make the most of it! .

You should start preparing & using SFi as a possible future retirement plan, from day 1!

That is as soon as you get a better understand of your SFI business. I don't see SFI as a business you want to retire from?
I see it as just the opposite. A great opportunity to build a retirement plan or a 2nd retirement plan!

Why would one care to
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9162 votes
Mar Fajardo, SB (Ontario, CA) Top Author Forum Guru 9/29/2015 12:06 pm
Affiliate since: 05/03/2002, Power Rank: 44 | Read Mar's 582 other Ask SC answers
SFI basically offers a chance to ditch your 9-5 work schedule, be your own boss, and make lots of money while making new friends in the process.

There are two aspects that need to be addressed in order to answer your question:

- When you should start preparing for your retirement from SFI?

- How to prepare for your retirement from SFI?

1. When you should start preparing for your retirement from SFI?

You must start preparing for your retirement
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9118 votes
Williams Ford, Aff (Georgia, US) Top Author Forum Guru 9/24/2015 7:28 pm
Affiliate since: 07/26/2007, Power Rank: 99999999 | Read Williams's 638 other Ask SC answers
This is a great question because everyone deserves to retire and work only if they choose to work. Most people spend over 40 years of their life in the work force although some retire in 20 to 30 years. No one really wants to be glued to a computer either. So, the best time to start preparing for your 'exit strategy' is now.

To do this, you need to crunch some numbers. What is the cost of your current standard of living? If it is say $30,000, then you will need about $600,000
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