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Are you a Baby Boomer seeking to Build A Strong Financial Future?
Is Your Retirement Safe? It May Not Be As Secure As You Think!
Dear Fellow Baby Boomer,
Many folks either approaching or at the age of retirement are in for a troubling future.
“About a quarter of baby-boomer households have so far failed to accumulate significant savings,” according to a Congressional Budget Office study.
“For the remaining quarter of boomer households, the evidence is mixed. . . they appear set to experience moderate declines in their living standard during retirement.”
So 50 percent of the upcoming generation of new retirees will be living at extremely low- to just-below average standards for living.
That in itself is an alarming statistic.
I will let you in on a little secret: This study was penned in 2004.
Before our nation succumbed to four catastrophic economic bubbles: in the stock market, real estate, consumer spending, and private debt.
With our weakened economy, there isn’t one single government program that protects retirees that can be trusted.
And “oh, how the times have changed.”
I wish I could tell you that report got brighter since 2004. But the prospects only look bleaker.
In December of 2009, a joint report from the National Research Council and the National Academy of Public Administration studied Medicare, Medicaid, and Social Security.
The report concluded that the spending on these programs drastically outpaced the tax revenues dog-eared for them.
To quote the report:
“Any efforts to rein in future deficits must entail either large increases in taxes to support these programs or major restraints on their growth — or some combination of the two. . . the debt level is unsustainable, something has to give.”
If you are worried about your retirement,
I suggest you look into protecting yourself now
Check Out What We Discovered
And Begin To Secure Your Future
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Written by glenn
Topics: Baby Boomer