Too Much Risk Too Close To Retirement

Straight talk never hurts. Too many boomers are part of the underfunded retirement generation, miss-informed, counting on real estate and stock market investment gains to make up the difference between what one saves and one needs to fund a successful retirement!

Challenges:

Defined Benefit Retirement Plans will likely have difficulty meeting 100% their long – term obligations

Medicare and Social Security could reduce benefits up to 25% over time due to needed reforms

The Great Recession forced future retirees to use their nest eggs as a safety net vs. a retirement fund

Market uncertainty makes investing difficult, too many investors make risky moves to re-coup loses

Boomers and the Great 401k Experiment:

Corporate America was the hands down winner while too many boomers are now the losers of the great 401k experiment.

According to the Federal Reserve most Boomers 401k’s are inadequate to fund their retirements.

Individually managed 401k’s vs. a professionally managed 401k’s resulted in gaps between what is typically saved vs. what is typically needed which has been exasperated by the Great Recession.

Too many Boomers are not all together confident they have enough money saved for retirement and that they will comfortably outlive their money.

Options:

Delay retirement, continue working and or perform” Creative Work” reduce expenses,  initiate “Proper Retirement Planning” Build One’s Nest Egg – Protect One’s Nest Egg, plan for” Flexible Frugality” in retirement when warranted.

Less than Ideal Options:

Take on an additional part – time job, down – size today to reduce housing expenses, move locations to secure employment, reduce expenses in retirement and get by primarily on Social Security Income in or outside the U.S.

Good News:

Forward thinking folks are simply taking the bull by the horns and creating the life they want for themselves in older age. They have put their financial house in order. They know how to keep their life – long living costs in check. They know how they can outlive their money. They are neither bored nor unprepared nor “needy” the root of unhappiness.

They understand that a leisure retirement (Endless Summer) is not as ideal as it sounds. They’ve found their passion and have made it their life’s work. This type of work keeps their minds sharp all throughout retirement. Performing Creative Work results in play which stimulates more creativity and allows retirees to get lost in what they love doing. They more easily find their natural rhythm in the flow of life. This makes them truly happy inside; and eventually they discover they are content. Through the process of “Creative Retirement Planning” they’ve taken the uncertainty out their older age and achieved their “Peace of Mind”.

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About Roger O'Keefe

My background is in education and finance. I'm a published author and photographer, former radio talk show host, and creative retirement planning expert. My work is a love of labor, I do not sell any products of any kind. I've appeared as a guest on more than 50 national and local television and radio shows. With a Masters in education, I'm a licensed educator and author of the “Future Bright Program” and the California State Department of Education “Teacher Appreciation Program.” I'm a member of the American Association of Retired Persons and the National Care Planning Council NCPC. I'm currently writing my second book and reside in the Rocky Mountains of Colorado. My mission is to reshape retirement planning one person at a time. Please visit my website www.creativeretirementplanning.net and take advantage of the many complimentary online seminars, resources, and retirement planning tools.
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