It’s important to know that even in the best years the stock market carries a 30% chance of loss. So there is always a 1 out of 3 chance the market won’t perform to expectations. Sadly, in good times people think the market will continue to climb. But what are the odds of consistently beating the market and avoiding market meltdowns? What are the odds of becoming a professional athlete? Plenty of people have overcome the odds and made it big in sports. But what do you say to a 50 year old who wants to play in the NFL? We need to be realistic. The older you get, you may not be able to afford the time to regain your losses. Read More…
10,000 Baby Boomers Retire Each Day
Today 10,000 new baby boomers retire each day. Think about it: Many people don’t get defined pension plans from their employers anymore.
If anything, employers have reduced their 401k match, while employees are contributing less to their 401k.
What about social security? The IRS tells us a third of today’s retirees get almost 90% of their income from social security. This statistic is very alarming; 1/3 of retirees are wards of the government and living off fixed income from the government. Additionally, we have another 1/3 of retirees who get 50% of their income from social security. All told, people retiring and folks hitting the social security system are expected to get 55% of their income from social security. So, what are the alternatives for income? Read More…