Here’s a great headline to wake up to … “Americans Know They’re Not Ready for Retirement. But It’s Worse Than They Think”.
Really? Tell me something I don’t know. The article is from a Barons report about a survey done by an investment group that poled American workers with a retirement plan in place. The research spanned three generations: Baby Boomers, Gen X, and Millennial, citing that these groups are all underestimating when they can retire and how much they will need at that point. Their thought that they will be able to live comfortably, is just a “Pipe Dream”.
The most staggering statistic I found was that of the “Boomers 47% regret not starting to save sooner, and 35% wish they’d saved more money. The average 64-year-old has only saved 30% of the $1 million they say they’ll need to maintain a comfortable lifestyle. These guys have pushed out retirement, to age 69 on average and will need to have saved over $142,000 annually to get there”. (I’m included in this motley group, Argh!!)
A daunting task for those of us who haven’t started or have delayed our savings plan. As the report said, knowledge and planning is the key. We all need to be aware of our position regarding retirement.
When I found myself at the crossroads of working and retirement. I knew I screwed up big time. There was definitely not enough $$$ to be comfortable, Survive? Yes, Comfortable? No. This of course was not my intention, but certainly my responsibility. If you want to achieve a better quality of life and retirement. You needed to be proactive to get where you need to be.
In my situation I have started a side/full time gig with Dean Holland’s Internet Profits . As of last Friday I finished his 30 day challenge in just three weeks. I know some of you may have started a side gig and I know some of you still have that JOB to contend with. But this program was designed for people just like you. For those of you want to increase your income or boost your retirement fund, this may be what you’re looking for. He is giving away a free book for those interested, You’ll find it here -> Affiliate Marketing .
As for myself, I continue on the learning path. As the article said, knowledge will be the key to my retirement goals.
Stay Tuned, And Thanks For Stopping By,
TTYL, Lenny
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Quotes and Excerpts Taken From Barons 4/6/2019 By Mary Childs. to view: Go Here