Even with the run-up in the stock market and housing prices, half of all American households are at significant risk of not being able to maintain their current standard of living after retirement.
That’s the conclusion of a surprising new study released last week by the Center for Retirement Research at Boston College.
That’s only slightly better than the Center’s National Retirement Risk Index showed in 2010, in spite of a 45% inflation-adjusted increase in the stock market and a 6% increase in home prices since then.
In fact, the Center’s research shows the picture is even worse than in 2007, which is why the study concluded…
The Only Way Out is to Save More and Work Longer”
The problem with the “work longer” part is that almost half of all retirees were forced out of work earlier than they planned due to layoffs, poor health, or the need to take care of a loved one. So “working forever” may not be an option you can count on, even if you were okay with saying, “And would you like fries with that?” a hundred times a day.
I’d like to add another key factor to the mix: Stop counting on paper profits!
You know that 45% increase in stocks and 6% increase in home values we just talked about?
Yup, meaningless. Say what?!? We’ve been seduced into believing we have real wealth by eye-popping numbers on pieces of paper. Whether that’s your brokerage account or 401(k) statement, a home appraisal, or the price of an ounce of gold, those numbers are meaningless unless you sell the asset and (hopefully) lock in a gain.
That’s called “market timing,” and most people and experts fail miserably at it.
For the record, when you use the Bank On Yourself method, it’s very different. The numbers on your annual statements represent real wealth that doesn’t disappear when the markets crash. Plus, your plan is guaranteed to grow by a larger dollar amount every single year – even if the market tanks!
And it lets you fire banks and finance companies and become your own source of financing. Watch the video to the right to find out how that works.
You can fire your banker when you join the Bank On Yourself Revolution
It’s fast and easy to get started. Just request a free Analysis here, if you haven’t already, and find out how much more lifetime wealth you could have when you tell banks to go take a hike and become your own source of financing. But please do it today while it’s fresh on your mind!
I’d like to point out that if you’ve been considering adding the Bank On Yourself method to your financial plan, but haven’t started yet, if you start TODAY, you could hit the ground running in the New Year. (There is a four- to six-week lag before a Bank On Yourself plan gets issued.) So request your Analysis here now.
Current “Bank On Yourselfers” already know the numbers on their policy’s annual statements represent real wealth that doesn’t vanish when the markets crash. Their plan doesn’t go backwards, either. Their plan(s) are also guaranteed to grow by a larger dollar amount every year they have them!
So, if you’d like to add more predictability, liquidity, tax advantages and control to your financial plan in the New Year, I encourage you to contact a Bank On Yourself Authorized Advisor today, so you can “hit the ground running” in 2014.
Have You Downloaded Your FREE Chapter of My New Book Yet?
Even though my new book, The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street and Take Control of Your Own Financial Future, isn’t due out until February 11, it’s been garnering some amazing advance praise.
And I’m giving a sneak peek at the first chapter now absolutely FREE! Just click the green button below to download your chapter and see some of the many reviews we’ve already received:
And keep your eyes peeled for a very special pre-publication offer on the new book I’ll be making to subscribers to this blog next month.