INTRODUCTION: Are you prepared for 65?
“The question isn’t at what age I want to retire, it’s at what income.”
~ George Foreman, iconic boxing championship and entrepreneur
Is there something your employer is not telling you? I am willing to bet that your boss is keeping secrets from you about your retirement – especially the reality that you will not retire rich or comfortably.
65 is no longer the golden number of prosperity – especially as more and more Americans are forced to work well into there retirement years for income. As corporate and Government pensions shrink and Social Security teeters on the brink of bankruptcy, your retirement future solely lies in your own hands.
Take an honest look at your savings and assets: are you ready for retirement?
If you are like 40% of Americas polled in the 2011 Retirement Confidence Survey, then you have not saved for your retirement. If you are over the age of 45, then there is a 33% chance you have not begun saving for your retirement plans. Even if you have started saving for retirement, there is a 50% chance that you have less than $25,000 for your nest egg.
Worse, if you are like a majority of Americans, then you erroneously believe that you will retire comfortably – when the reality of the numbers speaks otherwise.
Rising health care costs, inflation rates, and the high quality of life we expect in retirement further compounds the need for a strong elderly nest egg. More than 50% of workers estimate needing less than $250,000 to cover retiree health costs – but according to research by the Employee Benefit Research Institute, to have sufficient funds for healthcare, a retired couple needs a minimum of $300,000 for an average life expectancy, or $550,000 for a lifespan of 95.
This demonstrates the large gap between expectations and reality – which is the reoccurring theme in most retirement plans today.
Good news! By the end of this book, you will be savvier than 99% of most common readers when it comes to your retirement. I explain the fundamentals, pros, and cons behind each retirement instrument – and show you exactly how to AVOID the traps that siphon your retirement funds. Indeed, there are many retirement secrets that your “boss” does not want you to know, but with the decades of experience I have had in tax, estate, legacy investment, and financial planning, you will no longer be kept in the dark about the reality of retirement!
The fact that you are reading this book means that you are conscientiously concerned and planning for your retirement. Now, the next step is to figure out if your investment and savings plan will give you the needed funds to enjoy a comfortable retirement.