Guaranteeing Your Retirement Income In These Trying Times |
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Dear Reader, Retirement has become a pipe dream for millions of Americans. Typically, we have relied on three financial sources to secure our “golden years”: Social Security, investments, and the value of our homes. This diversification has provided safe, sturdy, and worry-free retirements, akin to the three legs a stool needs to be stable. Unfortunately, that nest egg we have counted on is no longer there. Social Security benefits only provide a minimum standard of living. Investments are not as high as most had hoped due to a “lost decade” in stocks. And home values have plunged. |
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This problem can’t be fixed with a few weekends working overtime. Many baby boomers set to retire already have deferred for a few years. In fact, the average boomer has saved less than one year’s salary for retirement ($29,000 according to Wells Fargo). Meanwhile, for those fortunate and frugal enough to build up a substantial nest egg, typical sources of income such as bonds and CDs have only provided meager yields. And that is to say nothing of the out-of-control spending spree that has sent U.S. debt soaring in excess of $15 trillion. The U.S. has no choice but to “default” through massive inflation. The SmartMoney newsletter issue “The global Economic Condition, and What You Can Do About It” is well worth reading. It provides solutions that may be of interest to you. Email us or call us for your fr.ee printable copy. Statewide Retirement Planning Co. Martin L. Gross
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