A hard look at the future of most Americans at retirement, with facts and figures to make you worry about retirement and start saving more. Covers retirement readiness, social security income, medicare premiums and more. Read this is you want to be prepared for a comfortable retirement.
The Inspirational Story of Julio Herrera Velutini - Global Finance Leader
Why You Should Be Worried About Retirement
1. WHY
YOU
NEED
TO
START
SAVING
FOR
RETIREMENT
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Learning
Group,
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2. FLOYD
SAUNDERS
Author:
Family
Financial
Freedom,
College
Without
Ramen
Noodles,
10
Steps
to
Financial
Security,
Figuring
Out
Wall
Street
and
other
books
! Saunders
Saunders
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Group,
Newton,
KS
Learning
Group,
provide
educa9onal
resources
to
the
financial
services
industry
and
offers
unbiased
product
free
seminars
on
financial
planning,
money
management
and
inves9ng.
SLG
is
based
in
Andover,
KS.
! Since
1996
we
have
providing
clients
with
personal
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Management
and
Inves9ng
training
tailored
individual
circumstances
and
objec9ves
rather
than
advisor
incen9ves
or
commissions.
! Our
workshops
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educa9on.
3. By 2030, almost 20% of
Americans will be retirees 65
years or older.
hLp://www.nia.nih.gov/newsroom/2006/03/drama9c-‐changes-‐us-‐aging-‐highlighted-‐new-‐census-‐nih-‐report
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Learning
Group,
Newton,
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4. For the next 15 years,
10,000 Baby Boomers will
retire each day.
hLp://www.pewresearch.org/daily-‐number/baby-‐boomers-‐re9re/
Saunders
Learning
Group,
Newton,
KS
5. Your future:
• Overpopulation
• All vying for
• Government
programs
• Private pensions
• Medicare.
hLp://www.investopedia.com/financial-‐edge/0412/the-‐future-‐of-‐medicare-‐why-‐you-‐should-‐be-‐worried.aspx
Saunders
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Group,
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6. Most retirees will need to
continue working to
supplement their income.
hLp://money.usnews.com/money/blogs/the-‐best-‐life/2010/10/07/10-‐reasons-‐seniors-‐con9nue-‐to-‐work
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7. Nearly 3.6 million elderly
people (8.7%) lived below the
poverty level in 2011
hLp://money.msn.com/re9rement/poverty-‐rising-‐among-‐us-‐re9rees-‐usnews.aspx
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Newton,
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8. What will you need for retirement?
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9. .
46%
of
Americans
have
less
than
$10,000
saved
for
re9rement,
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Group,
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36%
have
less
than
$1,000.
11. MORE
THAN
A
THIRD
OF
HOUSEHOLDS
END
UP
WITH
INADEQUATE
401(K)
BALANCES.
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Group,
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12. AMERICAN
WORKERS
ARE
$6.6
TRILLION
SHORT
OF
WHAT
THEY
NEED
TO
RETIRE
COMFORTABLY.
Saunders
Learning
Group,
Newton,
KS
hLp://www.cnbc.com/id/39177278
13. WILL
YOU
BE
ABLE
TO
RETIRE?
of
workers
expects
to
conPnue
working
while
rePred.
of
the
Baby
Boomer
generaPon
plan
to
work
unPl
they
die.
of
those
about
to
rePre
are
not
confident
they
will
have
enough
money
to
live
comfortably.
of
workers
haven’t
bothered
to
figure
how
much
they’ll
need
to
rePre
comfortably.
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Group,
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14. ONE-‐THIRD
OF
HOUSEHOLDS
END
UP
ENTIRELY
DEPENDENT
ON
SOCIAL
SECURITY;
FOR
LOW
EARNERS
THAT
PORTION
IS
Saunders
Learning
Group,
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KS
75%.
(Source:
Center
for
Re;rement
Research)
16. AVERAGE
MONTHLY
SOCIAL
SECURITY
BENEFIT
FOR
A
RETIRED
WORKER
IS
ABOUT
$1,230.
A retirement income of
$14,760 a year is far from
enough.
Link:
hLp://ssa-‐custhelp.ssa.gov/app/answers/detail/a_id/13/~/average-‐monthly-‐social-‐security-‐benefit-‐for-‐a-‐re9red-‐worker
Saunders
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Group,
Newton,
KS
17. CAN
YOU
AFFORD
TO
RETIRE?
Saunders
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Wait,
it
gets
worse.
That
$1,229
a
month
is
what
you
get
before
any
Medicare
premiums
are
deducted.
RePring
soon?
You
will
need
$240,000
to
cover
medical
expenses.
(Source:
Fidelity
Investments).
On
Medicare?
Plan
on
spending
$38,688
during
the
last
five
years
of
your
life.
Source:
Mount
Sinai
School
of
Medicine).
18. MEDICARE
PROGRAM
TYPICAL
MONTHLY
PREMIUM
Part
A
$0.00
Part
B
$99.90
Medigap
$164.67
Part
D
$39.62
Total
$304.19
Saunders
Learning
Group,
Newton,
KS
19. WHAT
WILL
YOU
NEED
TO
RETIRE
IN
COMFORT?
The
typical
American
h
ousehold
in
2010
spending
$48,109
a
year.
+
Medicare
Premiums
$3,650.28
Net
Annual
Spending
$51,759.28
Social
Security
income
$14,748.00
Gap
=
$37,011.28
Required
to
cover
gap
$925,282.00
Saunders
Learning
Group,
Newton,
KS
20. YOU
CAN’T
COUNT
ON
SOCIAL
SECURITY
Full Benefits
For the next 20 yrs.
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75% of promised benefits
For the next 75 yrs.
22. Saunders
Learning
Group,
Newton,
KS
Available
for
all
eReaders:
Order
from
Amazon
For
the
Nook
from
Barnes
&
Noble
Available
in
Paperback
From
Fast
Pencil
hLp://www.fastpencil.com/
publica9ons/4523-‐Family-‐Financial-‐
Freedom
Editor's Notes
As one of the largest fee-only investment managers in the state of Georgia, our job is to help you chart out your own course to retirement. Here, presenters should place their credibility statement, education, title, and/or years of experience.