Posted on | April 24, 2011
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Bad News for the Boomer Generation
A recent statistic claims that 50% of baby boomers will outlive their money.
They’ll run out of savings and have to rely on social security, charity and welfare or their own children for support.
A study in the 1970′s by the Bureau of Labor & Statistics showed that out of every 100 males born in America, by the time they were 65 years old, 36 of them would be dead.
The study also showed that 54 percent were predicted to be dead broke and completely dependent upon social security.
Another 5% would still have an income. They would continue to work, not because they wanted to, but because they had to work.
In the richest nation on earth, only 5% would be financially independent.
That statistic hasn’t changed in the last 40 years.
Even today, only 5% of Americans are financially independent by the time they hit their golden years.
That leaves 95% of Americans still striving to make ends meet when they reach retirement age.
A lot of these people lost their future back in 2008 when their IRAs and 401(k)s lost 31% of their value on average. Some lost upwards of 40-50% of their value.
If you lose half of the value of your retirement nest egg, it takes at least 10 years to get back to breaking even.
Putting that money into a bank or a CD at 1% won’t allow you to double your money in that amount of time. Putting it into the market isn’t the answer either.
There are far better strategies to grow your money without putting it at risk.
We Don’t Know What We Don’t Know
There are at least 31 FLAVORS of missed fortune which is an acronym for:
People miss out on fortunes because of the time value of money, meaning if they just did things a little bit differently, they’d increase their net worth drastically.
For instance, right now we’re in tax season.
Many people view their income tax refund as a forced savings program. Instead of socking that money away and giving the government a zero interest loan, you could change your withholding and set aside that difference. With an extra $2,000 annually, you could accumulate an extra quarter to half a million dollars in your retirement account.
Government leaders make a big deal out of cutting $100 million dollars out of the annual $3.5 trillion dollar federal budget.
Do the math. If you spend about $2,000/month on your living expenses and you were to cut your spending at the exact same ration, you’d only reduce your budget by 6 cents.
We don’t have a revenue problem in this country, we have a spending problem and taxes will be going up.
If you’re putting your money into IRAs and 401(k)s and thinking tomorrow’s tax rates will be lower, you’re going to be in for a rude awakening.
There are better ways to save for retirement.
Taking Ownership of Your Financial Future
By implementing missed fortune strategies, you get much better results than simply doing what everyone else is doing.
There’s a huge difference between Mr. Tax-to-the-Max who takes minimum distributions and pays 2 to 4 times as much in taxes and Mrs I’ve-a-lot-more who enjoys double the net spendable income and pays about 1/6th as much in taxes.
Mrs. I’ve-a-lot-more stimulates the economy by taking ownership of her future rather than just rolling over and paying too much in taxes.
Instead of getting a tax refund and spending it after letting the government keep your money for a year, learn how to put that money to work for you and accumulate an extra quarter million, half million or even a million dollars by retirement.
Missed fortune strategies teach you how to use a system that protects your money whether the market goes up or down without risking your principal.
You’ll learn to keep your principal safe and make sure you don’t lose the money you set aside. You keep the money you make and never subject it to risk or loss again.
These strategies can teach you how to earn a rate of return that’s greater than taxes or inflation and that grows your money tax free.
We’ve helped several thousand people take ownership of their future and achieve financial independence.