If you’re close to 50 years old (or older), you need to read this immediately…
That’s because your retirement is in jeopardy. It’s not just that you may not be able to retire on time — it’s that you may not be able to retire at all.
But it’s not too late to act…
As you’ll learn today, if you take specific steps, you can keep your retirement plans intact — and even better, you could potentially retire early.
Read on to learn more…
What You Really Need to Retire
Many financial advisors believe that, in order to live a comfortable retirement, you’ll need a nest egg of at least $1 million.
That’s based on having at least $5,000 per month in income.
Now, look — I know everybody’s expenses and lifestyles are different. But for the average American, $5,000 in monthly after-tax income would be enough to live a comfortable life…
You could pay your bills, go out for dinner once in a while, and even take some vacations.
Unfortunately, not many folks have $1 million. The average 50-year-old in America has less than $50,000, and 45% of Americans have nothing saved for retirement at all — zero.
But here’s the really scary part:
Even if you do have a small nest egg…
And even if you still have several years before you retire…
Your dreams of retirement could still come crashing down.
That’s because of two imminent threats…
Retirement Threat #1: Social Security is Bankrupt!?
Wayne and I are generally optimistic about America’s long-term prospects.
But it only takes some basic math to realize that American retirees can’t rely on Social Security to help them through retirement.
You see, Social Security doesn’t work the way most people think it does…
The government doesn’t take your contributions, invest them, and then give you access to these funds once you retire.
Instead, it takes the money you contribute today, and gives it to current retirees. Meaning, once you qualify to collect social security, you’re relying on younger workers to pay for your benefits.
There’s just one problem: Baby Boomers!
The Problem of the Baby Boomers
The Boomers are the generation born from 1946 to 1964.
Today, there are 76 million of them. And over the next 19 years, they’ll retire — and start drawing out huge sums from Social Security.
When that happens, there will be more retirees than there are workers… and that will cause Social Security to run at a massive deficit.
In fact, this is happening already: according to the Pew Research Center, as early as 2010, Social Security had negative cashflow of about $78 billion per year.
And even though the Government has “reserves” for this kind of situation, they’re not enough. Based on a report from the Congressional Budget Office, Social Security will basically be unable to meet its obligations by the year 2034.
So please don’t count on the government to help you through your retirement.
Retirement Threat #2: A Crash is Coming
On top of that, we believe the stock market is on the verge of a major correction.
Last week, for example, the ISM index of national factory activity fell to 47.8%, a ten-year low. This is very bad. A figure below 50% signals a contraction.
As the Chief Economist of Deutsche Bank said after the report came out, “There is no end in sight to this slowdown, the recession risk is real.”
And with interest rates already at historic lows, it’s unlikely that the Fed will have any power to “rescue” the markets if they crash.
That’s why so many experts are predicting this will be worse than 2008. Some are even saying it could be worse than The Great Depression.
If that happens, your nest egg could get wiped out in just a year or two.
Meaning, even if you’ve worked hard, saved your money, and invested it wisely, you could still be forced to delay or even cancel your retirement plans.
But there is a bright side here:
As soon as you recognize that there’s a problem… you can get to work on a solution.
How to Solve America’s Retirement Crisis
Tomorrow, Wayne will walk you through some solutions to America’s retirement crisis.
As you’ll see, hope is not lost. If you act now, you could get your retirement back on track.
The best part: you won’t have to rely on social security or the stock market!
In the meantime, we’d like to hear from you — in particular, we’d like to know:
How can we best help you prepare for this crisis?
To send us your feedback, click here now »
Happy Investing.
Best Regards,
Founder
Crowdability.com
