Today I am absolutely incensed over yet another article in the Wall Street Journal about advising everyone on what they need to do if they want to save their retirement dollars and retire at an age where they can at least enjoy life a little before they go on to another world.
The article started by saying "If you 're like many Americans whose retirement savings took a major hit with the stock market meltdown you are probably wondering if you will ever be able to retire". Then they listed the same old "Bull" on what we need to do.
A. Do a reality check.
B. Save more.
C. Work longer.
D. Postpone Social Security.
OK, do a reality check, when your 401K or IRA has melted there is not much of a reality check to do except try and somehow restore what you have lost. Hopefully not using the same techniques applied as to how you lost it in the first place......Save more, OK, with gas near $4.00 a gallon, price of food, clothing etc. sure I can save more!!.......Work longer, sure I you can find a job, or better yet, do you really want to be working at age 75?.....Postpone Social Security, As I stated in an earlier blog SS will be there for all of the baby boomers. As far as postponing SS under the right conditions some may be able to postpone SS but the majority of us won't. So if you like hot dogs and beans every night postpone SS!
WAKE UP EVERYONE...I want to be the first to say 20 years from now you will be able to pick up the Wall Street Journal (if they are still in business) and read "If you're like many Americans whose retirement savings took a major hit in the stock market, you're probably wondering if you'll be able to retire". Here is our advice:
A. Do a reality check.
B. Save more.
C. Work longer
D. Postpone Social Security.
Get where I've gone with this. If you truly want SAFETY, SECURITY, TAX ADVANTAGES, and you want to be able to sleep at night acquire a financial vehicle that will accomplish this goal. They are out there for everyone.
Give me a call, lets talk.
Albert, another fine point. Every time I think about retirement? I keep wondering how can people retire in todays day an age. I mean 401k's? The reality is, no matter how much you put into this vehicle. Half will go to the IRS our government. I mean look at this and tell me this isn't a smoke screen, for those who are using 401k as there retirement vehicle. We had 2 wars that tax payers have not paid for. Obama stimulus package has to be paid for? Who do you think is going to pay for that??? the tax payer. So with that said. Taxes are current 30% right? So my question to you is? Do you think taxes are gonna go up or down in the future ?????? hehehe Up! If i don't start looking at these other retirement vehicles? I won't have one. I love that IUL we talked about. Whoa! being able to earn compounded interest and being able to access it tax free. Thats the best of both world. Like where in the heck can you do something like that. You have to let the rest of the world know Albert. I hope your showing this to your friends. Anyway keep up the good work. I love it!
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