Source: 2014 Federal Survey, federalreserve.gov; 2015 Report on the Economic Well-Being of U.S. Households in 2014.
That's a significant problem because aside from Social Security, there are just two other traditional sources of guaranteed income in retirement. Employer pension plans, which we already know fewer and fewer people are having access to, and certain types of annuities – which can be used to fund private pensions2.
If your getting financially prepared for life after work, it's time to start thinking about how much you will have to have in order to cover essential expenses.
Experts suggest you may need 85% or more of your current income to continue your lifestyle when you retire. Let's do the math and determine how much income you can rely on from pensions and social security. We can then compare it to what it will take to provide for your essential expenses. If there is a shortfall (gap), we can integrate a private pension2 into a new portfolio allocation to make up the difference. This is our Hybrid Investment™ model; a firm position play that can be used to help control portfolio risk.
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More and more private and public pensions are at risk. We help you use out of box thinking and top notch advice to make smart choices with your money.Read more
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We know that the Law of Attraction says that we will attract what.
we focus on, so if we don’t have clarity, we will attract confusion.
Many of these multi-employer pensions are on track to run out of money. If the pension runs out of money, retired workers might only get a small percent of the money they thought they had earned…By The Washington Post 3/30/2018
Many people reaching retirement age don’t have the pensions that lots of workers in previous generations did, and often have not put enough money into their 401(k)s to live off of…By The Atlantic 2/22/2018