As I’ve said for years, there are only two types that work in the financial services industry:
1 – Those who say what they think.
2 – Those who say what they think you want to hear and it sells.
The industry is full of the latter. I’m proud to be in the former.
The retirement crisis in America is getting worse.
As noted in my New Years Commentary:
The retirement crisis in America is characterized by a majority of Americans lacking sufficient savings, rising financial insecurity for older adults, and the potential collapse of Social Security benefits, all compounded by the elimination of private pensions and increased healthcare costs. Factors contributing to this include limited access to workplace retirement plans, insufficient savings for most Americans, and a growing population living longer with less financial stability. This has led to more people needing to work past the traditional retirement age, with many expecting to fall short of their financial goals.
- A Looming Retirement Crisis in America
- U.S. Retirement Crisis: More than Half of Americans Have Less Than $10,000 Saved While Only 0.1% Hold $5 Million Plus
- Addressing the Nation’s Retirement Crisis: The 80%
- The Retirement Crisis: 6 Uncomfortable Truths for Aging Americans
And now on top of all that, the Social Security crisis could leave U.S. retirees worse off than those in poorer countries like Ecuador and Poland.
Anyone currently retired and/or planning to in a few years, needs to stop counting on social security for retirement. For many, that’s impossible and why I’m so concern about America’s economic, social, and political future. Trust me, this doesn’t create new business or win friends. But the truth will indeed set me free. There’s absolutely no getting around this fact no matter how much the financial service industry and politicians try to do this:
As always, my business partner for 25+ years and I, stand ready to deal just with the facts:
