U.S. economic data is revealing some startling numbers with a chasm growing between those that “have” versus those that “have not.” The fact that nearly five out of 10 Americans cannot afford to retire, meaning they have to work for the rest of their lives, simply cannot go unnoticed.
Two additional challenges – the good news and the bad – come in the form of rising life expediencies for women and men (climbing to 81 and 76, respectfully), and falling pension funds. This past year saw a rash of drastic pension plans cuts in nearly every region of the country, requiring some who rely on pension income to adjust on the fly. It’s no wonder many Americans worry they may not have enough to retire and enjoy the leisurely lifestyle they expected.
A Retire Now America study conducted before the election indicates a whopping 68 percent of those surveyed feel some entitlements – such as Social Security and Medicare – could be reduced in the next five to 10 years. Although everyone may not share the same sentiment, this exposes the underlying angst for both pre-retirees and retirees. “How will a strengthening dollar and rising interest rates affect my retirement living standard? Where is the best place to maximize our retirement savings?” So many important questions.
Retire Now America’s commitment is to provide the quality information in the pages of this guide so American families, their financial advisors, CPA's and estate attorneys can make sound and prudent decisions. In these turbulent times, we all must be vigilant about our finances.
Famed Intel Corporation founder Andy Grove once said, “So give me a turbulent world as opposed to a quiet world and I’ll take the turbulent one.” At Retire Now America, we say be careful what you wish for.
Events around the world have proved quite provocative and controversial over the past year. When you add in the recent election and a global move towards populism, it leaves many people wondering, what could be next?
Jane Sinclair, Publisher