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Retirement In the New Age

 

Are You Prepared For A Life of Leisure?

Consider These Numbers…

"At the end of WWII, there were 42 workers paying into Social
Security for each person receiving benefits. Today, barely three
people contribute for each recipient. Projections are that by
2030, when most baby boomers will have retired, just two working
people will contribute for each person receiving benefits.
(Social Security Administration, Trust Funds Report, 1992)."
(Saperston Asset Management Inc.)

"Social Security benefits will replace only 16% of the income of
married couples earning $50,000 to $100,000 and only 9.5% of the
income of married couples earning $100,000 and only 9.5% of the
income of married couples earning $100,000-plus. (Office of
Research and Economic Analysis, Pension and Welfare
Administration)." (Saperston Asset Management Inc.)

"Working people tend to think their retirement lifestyle will be
better than their current lifestyle, but retirees report their
standard of living has declined. Example: Twenty-six percent of
workers say they are "just making ends meet," but only 16% think
they will live this way in retirement. Of retirees, 20% are
"just making ends meet," while 16% describe their pre-retirement
lifestyle this way (Employee Benefit Research Institute)."
(Saperston Asset Management Inc.)

Is this the reward for a life of ardent labor and selfless
devotion? I would like to think not. I did not write this
article with the intent to trouble you, instead I have written
it in hopes of awakening you to the issue before it's too late.

Now that we have discussed the problem, let's discuss some
solutions.

If you're still in your youth, roughly between the ages of 20
and 35 you still have time to start a traditional savings plan
that will over time build you a comfortable nest egg for
retirement. But my main focus in this article is to help those
with much less time before retirement.

What do you do when you only have a few years left before
retirement and you realize that you don't have enough set aside
to live the life of luxury and leisure that we all hope for.
Should you put your dreams aside and continue to work through
your golden years? No one should ever have to do this. No,
instead I propose you take fate into your own hands, flip it
upside down, and shake it until his pockets are empty. Than pick
up the cash dust yourself off, and enjoy your life.

Ways to "Flip Fate" - Retirement Plans & Solutions

Money is a game of self education. Those who have it prosper,
those who don't fail. It's that simple. So pick an option and
get educated, your retirement depends on it.

401(k)'s & IRA's Time to put these bad boys into overdrive.
Start plunging huge chunks of your monthly income into either
your 401(k) or your IRA. If your company provides a lucrative
compensation matching plan, than hit that 401(k) hot and heavy
as it has the potential to provide a return of up to 25% 50% and
sometimes even 100%!

Stocks & Mutual Funds If you know what your doing, or have an
Einstein of a broker, you may want to take a look into this
option, as the stock market is a proven money maker for those
who know the game. For those who don't stick with mutual funds
and a good broker.

Second Job This is not a pretty one, but drastic situations call
for drastic measures.

--------------------- These last two are quoted directly from
MSN's "Money Central" and are probably the two which are the
most immediately lucrative choices you have.

"Plan to sell your house and buy a smaller one or get out of the
real estate market altogether. This is especially true if you're
planning to move to a retirement community with lifetime
services. If you need your home equity for living expenses, you
can always take a reverse mortgage."

"Start a business on the side. There are many benefits to this,
especially if you're close to retirement. First, you can usually
contribute up to 25% of your self-employment income to a tax
deductible Keogh plan even if you're already putting money in
another plan.

The second benefit is that your new knowledge and experience
makes you more valuable to your current employer. Third, if
you're laid off or experience job discrimination in terms of a
pay raise, you have another income. Also, once you're officially
retired from your primary job, you have a nice business that can
continue to generate income. It gives you some great tax
deductions and still allows you to sock away money for
retirement, whenever you finally decide you can afford to slow
down."

Your financial future is dictated by the choices you make today.
Don't let retirement sneak up on you as it has so many others.
Make a decision to take action today. Good luck, and enjoy your
retirement!

 

 

Wishing you success, Michael Bosse [email protected]

Health, Wellness & Wealth - The Freedom and Time to Enjoy Life
to it's Fullest! Be part of the next Trillion Dollar
Industry...Health! Benefit from the best health products
available, than share them and profit
http://www.artofhomebusiness.com/V4L

About the author:
Micahel Bosse resides in the beautiful San Diego County. Michael
is an advocate of wealth through knowledge. He owns and runs
several successful businesses, and spends his extra time
teaching others to duplicate his success.

 


 

 

 

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