Recent studies and surveys show that pre-retirees and retirees fear these five threats to their retirement finances most – and with good reason. Which of these keep you up at night?

Retirement Security Threat #1: Outliving Your Money

This is such a big and scary threat that some people say they would rather die before their time than run out of money.

Unfortunately, the likelihood of outliving your money is all too real. The average 65-year-old will outlive their savings by almost a decade, according to a recent study by the World Economic Forum.

To determine how much money you’ll need to have saved by the time you retire, a good guideline is the “Rule of 25,” which says you should multiply your total annual expenses by 25. By that measure, to have $100,000 per year (don’t forget to adjust for inflation) to spend in retirement, you’ll need to save $2.5 million.

It’s also important to consider that you may well live longer than you imagine, and studies show people tend to underestimate their life expectancy.

Retirement Security Threat #2: Market Risk

If, like most people, you have a big portion of your assets in stock market investments and the market falls as you’re nearing or already in retirement, it will have a devastating impact on how much you can withdraw each year.

You’ll be forced to cut back significantly on your retirement lifestyle, and/or you’ll have to work longer than you planned – possibly much longer.

Retirement Security Threat #3: Tax Risk

If you’re saving in tax-deferred accounts like 401(k)s, IRAs, and 403(b)s, you have no clue what your tax bill will be when you start taking withdrawals.

According to the Center for Retirement Research, “It’s a very big deal when people realize they only have two-thirds or three-quarters of what they thought they had.”

And that statement was made a few years ago before the largest federal stimulus programs in history jacked up our already out-of-control national debt!

Fact: If you make around $70,000 a year, you’re in the top 25% of American wage earners. And $118,000 or so a year puts you in the top 10%.

And as nice as it may sound to be in the top 10% or even the top 25%, it also means you’ve got a giant target on your back when the government is looking for more revenue to cover its obligations.

Retirement Security Threat #4: Health Care Costs Not Covered by Medicare

Fact: Even healthy 65-year-old couples face $500,000+ in health care costs they will have to cover out of their own pockets (source: Fidelity and Genworth studies).

We still don’t know the full effect that COVID-19 will have on future health care costs. Numerous studies already show damage from COVID-19 to people’s lungs, hearts, brains, and other organs – even if they had mild symptoms or were asymptomatic.

Retirement Security Threat #5: Policy Change Risk

There could be cuts to Social Security benefits – the trust fund was already projected to become depleted in 15 years, and that was before the pandemic and shutdown.

More of your Social Security benefit could be taxed. And changes to the taxation of government-controlled plans (401(k)s, IRAs, etc.) are always possible.

The Biden campaign has proposed changes to the tax deductibility of traditional retirement account contributions, for example. All kinds of changes are possible, and you have no say on it!

You Don’t Have to Volunteer to Be a Victim to these Retirement Security Threats!

The Bank On Yourself safe wealth-building strategy gives you an unbeatable combination of advantages and guarantees, including:

• You know what your tax rate will be on withdrawals from your policy throughout your retirement – ZERO! Your policy grows tax-deferred and can be accessed tax free, under current tax law
• The income you take from Bank On Yourself does not cause your Social Security benefits to be taxed and doesn’t hike your Medicare premiums, unlike 401(k) and IRA withdrawals
• You get guaranteed, predictable growth and retirement income – with no luck, skill or guesswork required
• There are guaranteed lifetime income options available that ensure you won’t outlive your money
• You can stop worrying about when another market crash will wipe out 50% or more of your savings – this strategy has a 160-year-plus track record of positive growth
• It’s a “private, unilateral contract,” which means no changes can be made unless you agree to them!

Don’t you owe it to yourself to investigate how adding Bank On Yourself to your financial plan can help you reach your financial goals and dreams without taking any unnecessary risks?

Request your FREE Analysis TODAY to find out the bottom-line, guaranteed results you could enjoy when you add Bank On Yourself to your retirement savings strategy. You have absolutely nothing to lose and a world of financial peace of mind to gain. So take the next step here now: