After late nights and lots of drama leading up to the New Year, President Obama last night signed the legislation passed by Congress to avoid the nation going over the “fiscal cliff.” Legislation passed by the most unproductive Congress in history.
And another historical anomaly: Tax revenues were increased, by a Republican majority in the house. The Republicans now think that taxes and revenues are over, and they can focus on spending cuts. The Democrats think differently — they will focus on finding additional revenue sources.
So now the New Year has begun in earnest. My self-imposed Holiday Vacation is over. Back to work.
And this year, I’m also going to focus on revenues more than spending cuts and savings. Those are still critical. The financial planners have those bases pretty well covered, tho. They don’t provide much, however, in the way of helping us find new sources of income. Retirement income to help sustain us in a savings-deprived retirement.
Which brings me to ask: “How are you approaching your own personal “fiscal cliff?” The one you will face when you can no longer work at what you’re now doing to earn enough income to support your life style? Your savings may be great, but will you need revenues beyond what they will provide?
There are many options here: Lottery winnings. Other gambling income. Jobs like Wal-Mart greeters. Consulting work. Online marketing. Plan B. Plan C. I’ve heard of many, and I’ll share what I find here.
New fountains of retirement income. New revenue sources. More wealth in 2013.
Happy New Year!