Years of working with the military will teach you many valuable lessons. The thing about any battlefield strategy is that it is life or death. It’s not a game. Win, you come home. Lose, and you end up in Flanders Field.
So what makes military strategy the perfect retirement strategy? Read this blog on how a military strategy can correlate with your retirement planning.
Plan to be Alive
That’s right. Generals plan to live to fight again. In the paraphrased words of General Patton: “I don’t plan on dying for my country. I plan on making the enemy die for his.”
Planning to be alive for a long time means you plan for the long run. That means acquiring assets, protecting them, moving carefully, taking calculated risks, and ensuring that you have an escape plan.
Who is the Enemy?
The enemy is anything that gets in the way of your financial welfare. Identify the enemy. It might be impulsive buying, procrastinating on financial planning, facing an uncertain job market, or that crazy cousin who tends to borrow money from you or tries to hook you up with the latest get-rich scheme. Once identified, it’s easier to know who’s who and how to make an effective plan.
Who is Your Ally?
An ally helps you achieve your goal of triumph by magnifying your resources. An ally in war shares information, puts pressure on the enemy, and is loyal to the mission. Allies in your financial battle are those that keep you out of debt, magnify your wealth, and provide you with information to make informed decisions.
Make a Battle (Financial) Strategy
Now that you know who your enemies are and who your allies are, it’s time to get to work.
Define the Objective
Objective 1: Stay Alive
That means taking care of yourself. Part of being secure financially means taking care of your own financial health so that you can continue working at a high level.
Therefore, attack the front. In order to win the war, you have to take your enemies head-on, and you have to make sure your plan works for the long haul. The same way that Generals pay close attention to their supply lines is the same way you should be managing your income flow. This is a sure path to the pillars of victory.
Allot portions of your income for savings and retirement first. Allocate resources to living, and protect your freedom to grow. That means making sure you develop skills that are marketable and have enough savings to move careers if you see an opportunity. The base of your operations depends on supplies, skills, and informed decisions.
Communication
Objective 2: Spies
Spies monitor their enemies, and you should do the same in your industry. Stay informed about emerging trends, skills in demand, smart investment opportunities, and strategies to protect your finances.
The Simpler the Strategy, the Easier the Execution
Don’t make your financial plan so complex that you can’t follow it. Patton’s brilliant strategy at the Battle of the Bulge was simple–let the enemy push through the middle of our front lines until they were strung out. Then attack them from the sides and surround them, forcing a surrender.
Conclusion
A good financial strategy sets you up for victory as it preserves assets, protects supply chains, attacks the enemy head-on, and keeps communication lines open. Schedule a free consultation with Tim from FedUp, and set up a financial battle plan that is easy to stick to and makes sure you arrive at retirement triumphant.