Retirement Crisis: Everybody Knows It’s Coming

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(Photo credit: Retirement Ahead via photopin (license))

Did you know:

“According to an Employee Benefits Research Institute survey conducted last year, 66% of workers have saved less than $50,000 for their retirement. And 28% have saved less than $1,000” (explained by an article posted on The Wall Street Journal.com).

It is a sobering thought as millions and millions of baby boomers are beginning their retirement. On top of that they are living longer than previous generations. It is only inevitable that the elderly will need more medical care than ever before. Yet, most will not have enough money to cover the costs that will accrue.

The funny thing is that even with a “poorly managed, ill-thought-out” public safety net, no one is doing anything to fix the problem!

In a study performed by Natixis, the U.S. ranks 19th in the world for retirees based on economic and health care factors. What is scary is that the U.S. also ranks #1 (by a long shot) in health care spending per capita “but we are only 33rd in life expectancy, 52nd in the number of doctors per capita, and 58th in hospital beds per person.” These statistics only add to the fact that most Americans (about 50%) will not be able to continue their standard of living during retirement.

The article explains that “43% of Boomers and ‘Generation Xers’ are at risk of running out of money in retirement. Among the poorest half of the country, that number rises sharply. Among those in the poorest 25%, EBRI (Employee Benefits Research Institute) estimates a stunning 83% are at risk.”

So why are we continuing to allow ourselves to go down the same path to failure? Why isn’t anyone doing anything about it?

Let’s face it… the government and the systems they put into place are designed to benefit themselves – not the hardworking people of this country. Government financial plans and healthcare options fall far short of what we as Americans need to financially survive.

It is not a fight for just the masses, but the individual has the choice to financially save his or her future.

Here at Eagle Financial Solutions that is exactly what we do. We help individuals, families, business and organizations stop relying on the government and banks and gain financial independence that is dependable, predictable and reliable no matter the circumstance.

To find out how you can gain financial independence, contact us today to speak to one of our advisors. Click the orange “Get Started” button below and we will be in contact with you shortly!

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