Are you ready for retirement? How long will you have to work before you can even consider retirement? Will your retirement funds outlive you, or will you have enough funds to retire comfortably? Those are just some of the questions and concerns many Boomers and Seniors face.
Statistically speaking, an estimated 79% of Americans work for an employer that provides a retirement plan, yet new research from the U.S. Census Bureau suggests that only 41% of those employees contribute to their retirement plans. Add to that, retirees don’t budget for typical health care expenses, leisure activities or senior living costs when planning for retirement. With the high cost of college, many parents are strapped with their college kids student loans.
“People are just not saving enough. You need to save as much as you can for as long as you can. We live in a one-size-fits-nobody world and the average American is time-bankrupt as retirement costs are often much higher than people anticipate – and they’re waiting too long to save. It’s important to take time this spring to work with an advisor who’s a fiduciary – someone who is legally and ethically-obligated to always put you first. You need a tailor, that fiduciary advisor, to make your plan fit your life.”
But what happens when you don’t even have an opportunity to retire, and are forced with a layoff, can you regroup and become an Encore Entrepreneur such as myself?
Well the generations before us, may not be thinking about retiring, but they are also not thinking about working 30-40 years for someone else – those days retiring with a gold watch and a pension is not even part of the equation, and on this Podcast I interviewed author, PNT GVN, of How Millennials Will BEAT Their Parents to Retirement: the cure to what’s ALWAYS been wrong with HOW we retire.
PNT GVN (or “Point Given”) is an author who writes books that matter to people. He specializes in speaking in a way that connects with people. PNT GVN also works in the private financial sector as a mortgage sales coach and corporate trainer, where he teaches twenty-something year old’s about finance on a daily basis.
His book has quickly been featured on several news outlets and he is currently booked on podcasts, radio stations, and television networks thru the fall.
He writes purely from life experiences, is licensed as mortgage professional by the nmls, and graduated with a B.A. in Business Management from Stockton University.
The bottom line for all generations is that you should prepare to live a long time and save enough money to not only maintain your lifestyle but also cover unexpected health costs. Track your finances to forecast your future with some strategic financial planning.
There’s no time like the present to get started, even if retirement is around the corner or your aging loved ones need financial assistance. Savvy financial planning and taking measure to prevent financial mistakes will greatly influence your quality of life and financial success.
Let’s Chat: Are you ready for retirement?