Most people are terrified of running out of money in retirement, but the data shows you should be far more terrified of running out of time.

If you're between the age of 55 and 65, you're using make more money as an excuse to actually avoid building a real plan.

You tell yourself, you just need one more year.

You just need another 500,000 in your portfolio.

But those goalposts never stop moving,

nor will that change in the future. Here's the reality. If you're like most retirees,

you are on track to have far more money at the end of your retirement than you do at the beginning

of it. To put it another way, you are currently trading your best years of health and vitality

for a windfall that your errors will inherit

30 years from now. That's why in this video, I'm going to share a new perspective that you

haven't heard before. So you don't make the same irreversible mistake I see far too many retirees

make. I'm going to break it down into five simple points. Point number one, you need to avoid the

trap of just one more year. I just need one more

year to get my portfolio in order. I just need one more year to get my plan in order. I just need

one more year of maxing my 401k, paying into Social Security, receiving another bonus, et cetera,

et cetera, et cetera. This whole idea is wrapped up in the misconception that if I just make more money, maybe one day I'll

feel more confident to retire. I am here to tell you that will never be the case. There will always

be just one more year. Yes, you think forward one more year. What if my portfolio is 10% bigger,

20% bigger? Here's the thing. When you get there, that becomes a new baseline. And when you get to the new baseline, there's a new horizon that you're going to want to reach. So break free of that mindset of just one more year because what it's really doing is it's putting off the more important work. The important work of actually building a plan. So what do I mean by build a plan? This doesn't mean run the Monte Carlo analysis.

That doesn't mean ask your financial advisor, you're on track to retire. It means go through a thorough process that understands number one, what are you actually retiring to? Doesn't need to be

sophisticated, doesn't need to be fancy, but just what do you want retirement to look like?

The number two, how do you create the income to support that lifestyle?

...