We have just experienced the largest sustained period of economic growth in our nation's history, yet 92% of retired Americans report Social Security as their primary income source (according to the US Census Bureau). This may not concern you, especially if you have a retirement plan in place. Many of us have an IRA, 401K or company pension. Plus a lot of people use a financial planner to help minimize risk. But this is a shocking percentage of workers whose main source of income in their golden years is Social Security. Was their planning that far off? In a recent AARP survey of those 65 and over, 50% indicated an annual income of less than $10,000! In addition, the US Census Bureau has stated that 1/5th of older Americans live at, near or below poverty level. HOW DO YOU KNOW WHEN YOU ARE ON THE BEST PATH POSSIBLE TO INSURE YOUR FAMILY'S FINANCIAL FUTURE? What if your assumptions, strategies and financial projections are inaccurate? What if you have not planned for your financial future at all? After all, 40% in the USA spend more than they earn, and a recent NY Times article (4/28/01) indicated that in the 1st quarter of this year "the savings rate of American households hit a new low, as people spent 1 per cent more money than they earned." Not only that, more than 50% of people in this country have less than $10,000 saved for retirement, and 1 out of 5 Americans saved $0 (ZERO) in 2000! So how sure are you about your retirement plan, that is, if you have one? How do you plan for true financial risk, and assure yourself independence in your later years? What if you had the means to plan accurately for the future? Most people have not really thought too much about financial security in their senior years, as we learn from the CEO of America's Research Group, C.B. Beemer: "Americans today want the same standard of living during retirement as they had at the peak of their careers, yet over one-half of all working Americans have neither a private pension nor financial assets worth six months wages." Even if you have considered your future carefully, how can you plan effectively for the unpredictable and unavoidable realities of life? "Millions of Americans who've bet their retirement future on the stock market are now coming up way short." (From USA Today, 3/26/01) In the United States, supposedly the richest country in the world, there have been over a million and a half layoffs announced by US companies in 2001. Former President, Jimmy Carter says that Social Security "is in serious trouble... When the program was established in 1935, payroll taxes from about 40 Americans supported each retired individual... By 1990, the ratio had dropped to almost 3:1, and it is projected that in 2010, only two workers will be paying for the retirement and medical expenses of one senior citizen." Think about it. Do traditional financial plans consider all the true risks? Will the use of the CPI (Consumer Price Index) or an assumed inflation rate that is figured into your retirement plan be enough to offset the actual events of life? How do you save for retirement if you lose your job, or face other unpredictable expenses throughout the course of your life? THERE IS A WAY! ARRANGE TODAY FOR A FREE WEALTH PROFILE AND LEARN WHAT TRADITIONAL FINANCIAL PLANNING IS NOT ABLE TO PREDICT. SEE A REVOLUTIONARY ALTERNATIVE ECONOMIC MODEL THAT WILL ENABLE YOU TO PLAN ACCURATELY FOR THE FUTURE.: |
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Call Steve Millington: 908-237-5202 |
