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Listen to “Ep12 – Saving For Retirement Just Got Easier” on Spreaker.

Alright, first things first.  Yes, I am alive and well.  Thank you to the followers that reached out. I’m glad you’re out there and wondering what happened to the content and show.  As I mentioned in my replies to you guys, I have been working on something.   I’ll get into that at the end of this post but first, because they are closely related, I want to dive into saving for retirement.  After that, I tell you what I’ve been working on you’ll see how saving for retirement just got a little easier!

Coming Up Short.

When it comes to saving for retirement… guess what?  As a whole.. US workers just are not very good at it!  According to an article at CNN Money 1 in 4 workers have less than $1,000 saved for retirement. In total we have about 165 million people in the US workforce.  Of those about 95 million have access to a 401K or 403B work-sponsored defined contribution retirement savings vehicle. Yet only about 35 million people actively contribute…. I know, even the name is confusing, it’s no wonder people aren’t using them.

Actually, if you are one of those that have access and are not contributing or are contributing but still are not sure what you are investing in.. let me just say, YOU ARE NOT ALONE!  As a financial coach, I have coached literally dozens of individuals that wanted help setting up their retirement savings accounts.

Full disclosure:    I AM a financial coach.  I am NOT a financial advisor.That means I cannot recommend individual investments.  I can only educate and allow you to make decisions. I do not get compensation from nor am I legally permitted to make recommendations on investments. Personally, I believe that’s better for you!  I have no false motives.  I only want to empower you to succeed. End disclosure.

So the question is why are we so crummy at saving and investing for retirement?

What it comes down to is in the late 70s when the defined contribution plan was created, companies started discontinuing pension plans and started 401Ks and 403Bs.   The intended benefit was twofold,

  • People get to invest their own money and
  • The company rids itself of the liability of investing millions of dollars for their employee’s retirement.

The issue was that the pension plans were managed by professionals, money managers, and people that live and breath investing.  Then suddenly the burden was put on all of us.  Hey, listen, we all aren’t money managers for a reason… we have invested our time in other endeavors and we don’t want to learn about saving and investing… as a result… people just didn’t invest.  They didn’t want to make the effort to learn what they need to know to feel comfortable setting up their retirement savings account.

Where are we now?

Anyway, that’s how it all started. Now fast forward a decade or two and now many folks are going into retirement with little to no savings at all.  It’s a bad deal. That’s why when someone asks me to guide them through setting up their retirement account I am thrilled to do it. In part because I know what a dramatic impact it could have on their future.  And the earlier they can start the better.

Example: How starting earlier can make a HUGE difference.

Take a look at this chart below and let’s focus on Susan and Bill.

source: JP Morgan

Source: JP Morgan

 

Susan

Susan saves $5,000 a year from the age 25-35 (10 years) with a total savings of $50,000.  Even if she never contributes another dime, when she turns 65 years old her account will have $600,000 in it.

Bill

Bill starts a little later.  He saves $5,000 a year from the age 35 to 65 (30 years) over that time he puts away $150,000 of his money.

Who is the Winner?

Who do you think will have more money at the age 65?   Believe it or not, it’s Susan.  Bill only has $540,000. So although Susan put in $100,000 less she has $60,000 more at the age 65.

That is the power of starting early.  And that is why I believe its critical that people setup their retirement savings accounts, like a 401K or 403B, as soon as possible… Which brings me to what I have been working on…

Introducing the Retirement Setup Guide.

After helping so many people setup their 401K or 403B I decided I need to find a way to help more people.  That’s why I created the Retirement Setup Guide.  And that’s what I’ve been spending my time on these last few months.

What is it?

It’s a 5-step web-based guide packed with video tutorials, instructions, and examples to help anyone with access to a 401K or 403B setup their account and increase their confidence with saving and investing in it.

Here’s the thing… I get that not everyone wants to learn everything about saving and investing. To that end, this guide boils everything down to the need to know information, essentially shortcutting the learning process and allowing anyone to quickly start saving, investing, and growing wealth.

The Guarantee

It’s easy, and for now, if you get the guide and get stuck in the process. I’m available to help. If you get the guide you WILL be saving and investing with confidence in as little as a few days. Guaranteed.

What Now?

If you, or someone you know, could benefit from the Retirement Setup Guide or are interested in finding out more, go to RetirementSetupGuide.com and get the guide.

 The bottom-line

The best time to start saving and investing for retirement was yesterday… the next best time is today.  You can get started now with the Retirement Setup Guide.  Saving for retirement has never been easier.

 

Learn more abour the Retirement Setup Guide here or go to RetirementSetupGuide.com