Trouble Looms Ahead If You Are a Baby Boomer!
In 2011, less than four years from now, the leading edge of 76 million people will hit the traditional retirement age-65-years-old,, and for the next 18 years, millions of retirees will overwhelm the nation's social security and medicare systems.
Think carefully now! Are you a baby boomer? If you are troubles loom ahead and these facts affect you.
Between 1946 and 1964, 76 million babies were born in this country.
We refer to them as the baby boomers, the most significant cohort in the nation's history.
Tim Sales, a network marketing trainer likens the baby boomers to a basketball moving through a water hose.
If you know where the basketball is, and can figure out what 76 million people want, you can earn tons of money.
From the late 1940s through the 1950s decade, the baby boomers made Gerber's and Halbros million dollar companies.
Baby boomers started getting driver's licenses just in time to make the Mustang the nation's number one muscle car in history.
As these boomers hit their mid-to-late 20s, even early 30s, and had heard for the last time: "My house, my rules," they fueled the nation's largest residential building boom in history.
This information is quoted from an excellent online report:.
"Researchers say retirees live on five income streams--government assistance (42%), personal wealth (20%) pension income (20%), wage earnings (15%) and other sources (3%).
" So almost half of your income is scheduled to come from government assistance, aka, social security, but guess what! Researchers predict that the Social Security fund will begin to lose money in 2012, the year after the first wave of baby boomers retire.
In 2029, when the last of the 76 million boomers turn 65, the fund will be broke.
Yet, according to this report, at least 66% of retirees rely on social security for half or more of their income.
In fact, the report stated, "...
about 54 percent of the nation's elderly would fall below the poverty line without social security benefits.
"The National Commission on Retirement Policy reported recently that only half of American workers are covered by a pension plan.
And defined pension plans (which guarantee payments upon retirement and now cover perhaps just 38% of workers) have given way to defined contribution plans (the amount of the payments is not guaranteed but depend on the ability of the employee to invest money over their lifetime).
Yet much of this is lost since, should they change jobs, about 66% do not roll the money over to another plan--they simply spend it.
" (ibid).
Wait you say! This is the United States of America! We are accustomed to facing daunting dilemmas, crunching challenges and provocative problems.
We have always found a way to resolve them.
In his book America the Broke, Gerald J.
Swanson paints a graphic picture of our fiscal future.
He wrote: "One day soon, our government will suddenly run out of cash, unable to meet its payments, leaving the United States as bankrupt as any banana republic.
We are far more vulnerable than most Americans realize...
With a debt of $7.
3 trillion, if interest rates were to hit the levels we saw twenty years ago, it would take every nickel collected in income taxes just to pay the interest on our existing debt.
There would be no money left for defense, or homeland security, or education, or Social Security.
"This scenario is hardly fiction.
That the United States of America can literally go broke is no longer a fantasy but a likelihood--unless we stop the train now speeding us to Armageddon.
If we do not get our financial house in order, and soon, our great nation will collapse under the weight of its financial obligations.
'I believe we an prevent the catastrophe.
But time is short.
In the final reckoning, it's up to us to do what's needed to save America'" In his book, Swanson quoted Scottish historian Alexander Tytler, who with uncommon insight, observed: "A democracy is always temporary in nature.
It simply cannot exist as a permanent form of government," because, sooner or later, "voters discover that they can vote themselves generous gifts from the Public Treasury.
From that moment on,' Tytler observed, "the majority always votes for the candidates who promise the most benefits from the Public Treasury, with the result that every democracy will always collapse due to loose fiscal policy.
" Tytler, according to Swanson, also wrote that all democracies progress through the same stages: "From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependence; from dependence back again into bondage.
" Data in the retirement report appear to support Tytler's observance.
For example, only 18 percent of baby boomers have $100,000 or more in savings to help finance their retirement years.
About 10 percent have $50,000 to $99,999; about 11 percent have from $25,000 to $49,999 in savings.
Now get this! A total of 61 percent of baby boomers--or 46,360,000 of those 76 million folks confronting retirement during an 18-year period, beginning in 2011, have from zero to less than $25,000 in savings.
According to a report from the Employee Benefit Research Institute about 20 percent of workers ages 40 to 59 (born between 1948 and 1867--clearly baby boomers) have less than $10,000 in retirement savings.
Okay, enough about the problem! I think, at least I hope you get the picture.
If you were born between 1946 and 1964, you will become 65-years-old between 2011 and 2029, assuming you live, of course.
If you are a baby boomer, you cannot count on Social Security.
If you're in the 61 percent of baby boomers who have from zero to less than $25,000 in savings for retirement, it's too late to begin saving now.
Please click the following link to double-check this information and research additional knowledge.
http://efmoody.
com Let's talk solution!
Think carefully now! Are you a baby boomer? If you are troubles loom ahead and these facts affect you.
Between 1946 and 1964, 76 million babies were born in this country.
We refer to them as the baby boomers, the most significant cohort in the nation's history.
Tim Sales, a network marketing trainer likens the baby boomers to a basketball moving through a water hose.
If you know where the basketball is, and can figure out what 76 million people want, you can earn tons of money.
From the late 1940s through the 1950s decade, the baby boomers made Gerber's and Halbros million dollar companies.
Baby boomers started getting driver's licenses just in time to make the Mustang the nation's number one muscle car in history.
As these boomers hit their mid-to-late 20s, even early 30s, and had heard for the last time: "My house, my rules," they fueled the nation's largest residential building boom in history.
This information is quoted from an excellent online report:.
"Researchers say retirees live on five income streams--government assistance (42%), personal wealth (20%) pension income (20%), wage earnings (15%) and other sources (3%).
" So almost half of your income is scheduled to come from government assistance, aka, social security, but guess what! Researchers predict that the Social Security fund will begin to lose money in 2012, the year after the first wave of baby boomers retire.
In 2029, when the last of the 76 million boomers turn 65, the fund will be broke.
Yet, according to this report, at least 66% of retirees rely on social security for half or more of their income.
In fact, the report stated, "...
about 54 percent of the nation's elderly would fall below the poverty line without social security benefits.
"The National Commission on Retirement Policy reported recently that only half of American workers are covered by a pension plan.
And defined pension plans (which guarantee payments upon retirement and now cover perhaps just 38% of workers) have given way to defined contribution plans (the amount of the payments is not guaranteed but depend on the ability of the employee to invest money over their lifetime).
Yet much of this is lost since, should they change jobs, about 66% do not roll the money over to another plan--they simply spend it.
" (ibid).
Wait you say! This is the United States of America! We are accustomed to facing daunting dilemmas, crunching challenges and provocative problems.
We have always found a way to resolve them.
In his book America the Broke, Gerald J.
Swanson paints a graphic picture of our fiscal future.
He wrote: "One day soon, our government will suddenly run out of cash, unable to meet its payments, leaving the United States as bankrupt as any banana republic.
We are far more vulnerable than most Americans realize...
With a debt of $7.
3 trillion, if interest rates were to hit the levels we saw twenty years ago, it would take every nickel collected in income taxes just to pay the interest on our existing debt.
There would be no money left for defense, or homeland security, or education, or Social Security.
"This scenario is hardly fiction.
That the United States of America can literally go broke is no longer a fantasy but a likelihood--unless we stop the train now speeding us to Armageddon.
If we do not get our financial house in order, and soon, our great nation will collapse under the weight of its financial obligations.
'I believe we an prevent the catastrophe.
But time is short.
In the final reckoning, it's up to us to do what's needed to save America'" In his book, Swanson quoted Scottish historian Alexander Tytler, who with uncommon insight, observed: "A democracy is always temporary in nature.
It simply cannot exist as a permanent form of government," because, sooner or later, "voters discover that they can vote themselves generous gifts from the Public Treasury.
From that moment on,' Tytler observed, "the majority always votes for the candidates who promise the most benefits from the Public Treasury, with the result that every democracy will always collapse due to loose fiscal policy.
" Tytler, according to Swanson, also wrote that all democracies progress through the same stages: "From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependence; from dependence back again into bondage.
" Data in the retirement report appear to support Tytler's observance.
For example, only 18 percent of baby boomers have $100,000 or more in savings to help finance their retirement years.
About 10 percent have $50,000 to $99,999; about 11 percent have from $25,000 to $49,999 in savings.
Now get this! A total of 61 percent of baby boomers--or 46,360,000 of those 76 million folks confronting retirement during an 18-year period, beginning in 2011, have from zero to less than $25,000 in savings.
According to a report from the Employee Benefit Research Institute about 20 percent of workers ages 40 to 59 (born between 1948 and 1867--clearly baby boomers) have less than $10,000 in retirement savings.
Okay, enough about the problem! I think, at least I hope you get the picture.
If you were born between 1946 and 1964, you will become 65-years-old between 2011 and 2029, assuming you live, of course.
If you are a baby boomer, you cannot count on Social Security.
If you're in the 61 percent of baby boomers who have from zero to less than $25,000 in savings for retirement, it's too late to begin saving now.
Please click the following link to double-check this information and research additional knowledge.
http://efmoody.
com Let's talk solution!
