What do you think of when you think of retirement? Freedom? Enjoyment? Less stress?
You’re not alone. Most workers today associate retirement with those concepts, according to What Is “Retirement”? Three Generations Prepare for Older Age, the latest study from the nonprofit Transamerica Center for Retirement Studies.
But the big question is … Will You Be Ready?
Will You Be Healthy Enough to Retire the Way You Hope To?
Just 16% of Baby Boomers surveyed said their health is “excellent.” But only about half of the workers in the survey said they exercise regularly … or eat healthfully … or get enough sleep.
Here’s the issue, as laid out bluntly by life coach Peter Sage …
If you don’t make time for health, you’ll have to make time for illness.”
How successful at life can you be, when your body refuses to serve you? And it will eventually refuse to serve you if you ignore your health.
Will You Have Enough Money to Do What You Want to Do?
Two out of three workers say their big retirement dream is travel. Half of those surveyed said they’re looking forward to spending time with their family and friends. And nearly half get a smile on their faces when they think of the time they’ll have to pursue their hobbies.
The problem is this: half of those surveyed have less than $50,000 total in all their household retirement accounts.
How far will $50,000 take you?
Don’t be the guy who said, “I have enough money to last me the rest of my life … if I die next Tuesday.”
Most Workers Are Woefully Underfunded for Retirement
Almost one in three workers have dipped into their retirement accounts early. More than four out of five workers carry some form of debt. (In fact, seven out of ten Baby Boomers are still burdened with student loans. Baby Boomers!)
And saving for emergencies? The average (median) amount workers have socked away for emergencies is $5,000, less than the average cost of a new roof. And $5,000 certainly won’t cover the cost of extractions and dentures if you need new choppers and you don’t have insurance to cover it.
Then there’s Social Security, or the lack thereof. When they were surveyed, almost eight in 10 workers said,
I’m concerned that when I am ready to retire, Social Security will not be there for me.”
5 Steps You Can Take Now to Boost Your Retirement Preparedness
- Daily exercise and healthy eating. Need I say more about that?
- Use a retirement calculator to figure out what you’ll need, realistically. (Just do an Internet search for “retirement calculator,” then actually run the numbers)
- If you don’t already have one, create a budget, for goodness sake. (Google “How to create a budget,” then have the wisdom to live within it)
- Learn where – and where not – to build up a retirement nest egg, then get serious about it
- This last step is really the easiest, and it can give you incredible guidance and peace of mind as you muddle through retirement planning …
Take This Simple, All-Important Next Step … Now, if You Truly Want to Have Freedom and Less Stress in Retirement!
This is an excellent place to start if you’re serious about not being part of the great majority that spends most of their retirement worried that they’re going to live longer than their money.
Isn’t that awful, that so many people are worried about living too long? You can do something to be sure you’re not part of that sorry crowd.
At the end of the report, you’ll find an invitation to meet with a qualified advisor who can help you make sense of your situation and your circumstances. These Bank On Yourself Authorized Advisors do not charge you for their services. Ever. So, meeting with them will not cost you a penny. But you’ll be richer in knowledge – and have a better idea of what you can do to be prepared to enjoy retirement after you meet with one.
Your Authorized Advisor will analyze your overall financial picture to find creative ways to help you prepare for retirement – sometimes with little or no increase in your out-of-pocket costs. Request your FREE Analysis, and you’ll get a referral to one of only 200 advisors in the US and Canada who have met the rigorous training and requirements to be Bank On Yourself Authorized Advisors.
It’s free, and it’s good, solid information. You owe it to yourself and your family to act today.