This is another sore subject that needs to be addressed, but yet nobody wants to talk about. RETIREMENT
It doesn’t matter if you are in your 30’s, 40’s, 50’s or 60 plus, you need to tune in to the issues and take personal responsibility related to your retirement… your survival depends on it!
This is not the financial markets our parents grew up in, the game has changed and the odd’s are not in your favor!
The good news is that it doesn’t have to be all gloom & Doom! Call or write me and let’s get into a discussion and start to build a strategy that makes sense for your personal retirement goals!
Playing Financial Chicken In Your Golden Years – Most of what we learned about investing should be forgotten, at least until governments, society and markets return to honesty. If that occurs, it will be a multi generational process; As a result, no one alive today should consider himself an investor.
Don’t confuse Warren Buffet and his ilk with investors. They may have been at one time, but are no longer. They are political operators who utilize politics and connections to their personal advantage. Unless you are very big, well connected and willing to pay to play, you cannot play in their league. If you fit the aforementioned categories, you already have forgotten about investing and are playing a more sordid but profitable game.
No one should be forced to play this game. Retirees and near-retirees especially should be living off the income from a life of savings, not playing chicken to survive. Unfortunately, the government policy of financial repression (low interest rates) forces them into such a situation. The further policy of counterfeiting money makes the situation even more difficult.
New model of retirement, aka working forever. Americans woefully underprepared to face retirement and half of households have zero retirement plan – Most Americans are incredibly unprepared when it comes to retirement. The goal posts keep shifting.
Now for full retirement under Social Security people will need to retire at 67 versus 65. What is rarely discussed is that rising Medicare premiums are being taken out of monthly payments so the amount being received is already shrinking while the cost of living is going up. One startling piece of information that came out this year was that half of Americans are one tiny emergency away from being flat out broke.
No wonder why we have a record 47.6 million Americans now on food stamps. When pensions were phased out starting in the 1980s many thought that the 401k or IRA would be the new way to save. Hey, Americans will stuff their money into the stock market casino and after 30 years, they would have a million dollar nest egg thanks to compounding. How did that work out? Let us take a look at where things stand today.
How Long Will Your Retirement Savings Really Last? A new study by HSBC highlights retirement savings around the world—or lack thereof…The modern age of medicine has lead to a longer life expectancy, something few people would complain about. But this has coincided with a global economic downturn, where unemployment levels are high, taxes are rising, and almost everyone is feeling the pinch.
Why Seniors Face Retirement ‘Perfect Storm’ in 2013 – An estimated 7 million Americans will reach the age of 65 by the start of 2013, and many will no doubt be thinking about retiring. But even if falling off the “fiscal cliff’ is avoided, some financial experts are warning anyone thinking about trading in their paycheck for a retirement fund next year. “It’s kind of a perfect storm in 2013 when you think about it.
Americans see biggest monthly income drop in 20 years – Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That’s the most dramatic decline since January 1993, according to the Commerce Department.
Economists think that rising gas prices in February could cut into consumer spending temporarily. Gas prices rose 10% in February, according to AAA, but are expected to fall in coming weeks.
All of that said, consumers are benefiting from a housing recovery and rising stock prices. The Consumer Confidence Index rose in February, showing that Americans are more upbeat about the economy than they have been in two months.
They’re not able to save much, though. On average, people saved about 2.4% of their disposable income in January, down from 6.4% in December. That marks the smallest saving rate since 2007.
Top 5 Retirement Issues – Investment Advisor spoke with top players throughout the retirement industry to get their take on the biggest issues in retirement planning.
And now the good news…
“Warnings have to be early to be effective” Although gold has been pulling back recently, because I think a lot of investors are somehow convinced that now that the global economies are recovering – although I would question that thesis – they think well, they do not need to own gold now as a safe haven, but they do not understand that the reasons that the economies are “recovering” is simply because central banks are inflating and basing their recoveries on monetary debasement. And so this is very positive for gold – it is not a negative.
Click Here for a recent special report by Silver News Surfer on the “Baby Boomer Dilemma” to further your research.