Here are six statistics that will make you cringe about retirement.
1. At Age 65:
– 45% are dependent on relatives
– 30% are dependent on charity
– 23% are still working
– 2% are self-sustaining
Source: Social Security Administration, Washington, D.C.
2. Cost & Result of Stock Trading:
– 97% lose money
– 2% break-even
– 1% make money
Source: Harvard School of Business Study
3. Fewer Men Are Worth More At Age 68 Than at Age 18. This is after 50 years of hard work.
Source: Devey’s Economic Tables
4. 85 Out of 100 People Reaching Age 65 Do Not Even Have A Paltry $250.
Source: Social Security Administration
5. Not One Person In The United States Has Deposited Money Regularly For 20 Years.
Source: American Banker’s Association
6. 93% Of The Men At Age 65 Who Have Failed Financially Said It Was Because of A Lack of Plan.
(Source of Articles are from: MDRT)
The solution is simple begin planning now. Read a few books and try to save or get a financial planner to help you, either way any action you take now will help you in the future.
About The Author
Moshe A. Raider is a Career Developement Supervisor and Field Representative for the Guardian Life Insurance Company at the Brooklyn Financial Group. He has helped many people protect their families, incomes, and homes and plan for retirement. He specializes in Life Insurance, Long Term Care planning, Disability Income protection, annuities and health insurance. He can be reached at 718-302-8660.