Sunday, June 8, 2014

Can You Afford to Retire?

Did You Know?


Over 50% of Americans near retirement age have saved less than $30,000 for retirement?


The general rule of thumb is that you need to save 8 to 12 times your last annual salary to be comfortable in retirement. 

That means a household earning $75,000 per year should have between $600,000 and $900,000 in retirement savings.

Yet most people between 50 and 64 expect to rely solely on their Social Security benefits. 

There are variables such as whether your house is paid off and if you have an income-producing partner, but the numbers are still startling.


The Myth of Working Longer

Okay, so I'll just work longer. The reality is that unemployment rates for people over 50 are increasing faster than those for any other age group. On top of that, older workers who do find jobs can expect to take a significant pay cut. 


Am I Worried?

Not at all. I'm in that age group and I know I don't have enough saved. So, I did something about it. I started my own home business with multiple income streams and over 90,000 products in my store. It's easy, it's fun and best of all it's FREE! Interested?








Regards,
Sophia







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