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Missed Fortune – New York’s Shell Game

Posted on | June 28, 2010

Your Retirement Shouldn’t Be a Guess

Recently, New York came under fire for what many are calling a “shell game” as it jostles money about within its pension fund to pay the nearly $6 billion it currently owes in annual payments — by borrowing from the very same fund.

The New York Times reported:

“Pension costs for the state and municipalities are soaring, a result of enhanced retirement benefits for public employees and the decline in the stock market over the past two years. And, given declines in tax revenue and larger budget shortfalls, the governments are struggling to come up with the money to make the contributions.”

New York is not alone in this financial dance. States, counties, cities, even corporations across the country are shuffling and tapping their way through these meager times, often coming up with less-than-fail proof ways of meeting their responsibilities.

The biggest downside is that the employees who have counted on those pensions and funds for their retirement may be facing a future without them.

The uncertainties of the future are exactly why we must do what we can to make our futures certain for ourselves.

We have seen that we can’t necessarily trust the government, employers or even some financial institutions to do what they’ve said, when they said they would do it.

Take your retirement into your own hands. Learn more about how you can safeguard yourself against the ups and downs of the market, while still enjoying a safe, liquid way to save for your retirement.

Discover how you can optimize your assets and put your serious money in maximum-funded, tax-advantaged insurance contracts.

We’ve seen how this approach can help clients approaching retirement — teachers, police officers, and others who otherwise would have relied solely on government-funded pensions — find a secure path to a comfortable retirement.

You work hard for your money, and you deserve to rest well during your retirement, with the peace of mind that your retirement dollars will be there when you need them — even if your former employers’ plan wouldn’t be.

Find out more, now.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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