10,000 Baby Boomers Reach the Age 0f 65 Every Day F0rThe Next 19 Years

10,000 Baby Boomers Reach the Age 0f 65 Every Day F0rThe Next 19 Years

Important Facts That Will Help You Take Care 0f Your Parents

 

ü  As 0f January 1st, 2011 every single day more than 10,000 Baby Boomers reach the age 0f 65.  This will happen every day f0rthe next 19 years

 

ü  One recent survey reported that, 36 percent 0f Americans say they don’t contribute to their retirement savings.

 

ü  A large percentage 0f Baby Boomers do not have a “traditional pension” plan..  Time Magazine reported the following:

 

o   The traditional pension plan is disappearing. In 1980, some 39 percent 0f private-sect0rworkers had a pension that guaranteed a steady payout during retirement. Today that number stands closer to 15 percent, according to the Employee Benefit Research Institute in Washington, D.C.

 

ü  It is estimated that over 30% 0f U.S. investors have more than 80 percent 0f their retirement accounts in equities.  Consider what would happen if the stock market crashed again.

 

ü  Statistics tell us the over 35% 0f Americans over the age 0f 65 live on Social Security alone.

 

ü  Surveys tell us that 24% 0f U.S. workers are making decisions to postpone their retirement.

 

ü  3 out 0f 4 Americans are immediately taking Social Security benefits at age 62. Their economic situation forces this decision, even though taking early payments will reduce the total pay-out amount. 

 

ü  Stanford University reports that the top 3 pension funds will be $500 billion short 0f meeting future retiree benefit obligations.

 

ü  The Illinois Teachers Retirement System is 61% underfunded , is heading towards collapse.

 

ü  The University 0f Chicago , The School 0f Management recently calculated the combined pension liability for all 50 U.S. states.  There is an estimated $5.17 trillion in pension obligations, but there is only $1.94 trillion  in state pension funds.  This amounts to a 3.2 trillion dollars short-fall.  Most states have notmoney , are on the teetering on bankruptcy.

 

ü  Analyst’s tell us that these deficits" will become unmanageable as Baby Boomers start to retire.

 

ü  It is estimated that in 2020 two (2) U.S. workers will pay f0r1 retiree. This is not sustainable.

 

ü  By 2019 just the national debt interest, , programs like Medicare , Medical will cost 92 cents 0f every dollar that our government has in savings.

 

ü  Analysts report that there will be a "fiscal gap" 0f $202 trillion dollars.  A large percentage 0f this is related to future promises made to Medicare , Social Security.

 

ü  The AARP survey 0f Baby Boomers found that, 40 percent 0f them plan to work "until they drop".

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At EFG-BN We Welcome Every Person Turning 65 Needing An Alternate Income Stream

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