Friday, July 1, 2011

Do You Want to Work Into Your 8o's?

As the economy continues to sputter and the cost of living continues to increase, baby boomers are becoming increasingly concerned about their ability to retire—and with good reason. For those fortunate enough to still have a job, salaries have typically held steady or even been cut. Meanwhile, gas prices continue to climb, while investments and real estate have largely lost value. Add to this unpleasant cocktail the threat of major inflation in the near future and it is very easy to see why prospective retirees are concerned.


As economists dissect recent data, they are coming to the conclusion that many baby boomers will have to work well past the age of 65 before they can afford retirement. In fact, some economists are suggesting that many would-be retirees will be forced to work well into their eighties before they have enough saved for retirement. While some have dismissed these forecasts as overly gloomy, it is a mistake to ignore them altogether. It is a fact that our economy is currently experienced painfully weak growth—at a time when we need to be adding jobs rapidly to keep unemployment under control. The future of our economy is also very unclear, as many of our manufacturing and communications jobs have been outsourced. And while the stock market has rebounded from the crash of 2008 and 2009, investors remain unconvinced that the recovery is going to last. Finally, even if our economy is able to overcome these obstacles and regain strength (not to mention full employment), there is little question that inflation will be a factor in years to come. The question is not whether we will experience inflation or not—the question is how severe will it be?

Meanwhile, you have been working hard for decades, saving and investing your money in hopes of reaching retirement while you are still young enough to enjoy it. Now, through no fault of your own, your plans are in jeopardy. I have good news for you, however. It’s not too late to seize control of your financial future. A carefully crafted plan can help you weather the economic storms we are currently experiencing—and will make the retirement of your dreams possible. Get in touch with us today and let us create a strategy to protect you from the dangers of inflation and economic stability.