Do You Have Enough Money to Retire?

The statistics about retirement savings are quite shocking:

• 45% of Baby Boomers don’t have any money saved for retirement.
• The average American in retirement spends $55,000, but 60% of Baby Boomers thought they could get by with less than $55,000.
• In about half of all married couples over 65, one partner will survive to at least 95.

You could assume saving enough for retirement is a huge problem.

I beg to differ. It’s not that people aren’t saving enough, it’s that they aren’t investing enough.

If you don’t invest, you can’t get higher rates of compounding and get your money working harder for you.

A 1.7% interest rate in a 10-year US Treasury bond or a 2% rate on a certificate of deposit is not going to get you enough money for retirement.

For example, if you saved $100,000 and invested it for 20 years, it makes a big difference whether you invested it at 2% or 10%. 

How much difference does it make?

At 2%, invested for 20 years, your money would only grow to $148,594.

At 10%, invested for 20 years, your money would grow to $672,749.

A $524,155 difference!

The difference is even bigger when you invest for 30 years. 

At 2%, invested for 30 years, your money would grow to $181,136.

At 10%, invested for 30 years, your money would grow to $1,744,940.

A difference of $1,563,804!

Remember, you saved the same amount of money. The difference is how you chose to invest it.

Where can you get 10% guaranteed? 

Nowhere. Ever. It’s not guaranteed. 

In any given year the stock market can go up or down, a little or a lot, but over time, long-term returns average about 10%.

You have to give up the idea of a “guarantee” to have the possibility of reaching a 10% average annual return.

It’s not easy, which is why I created a way to help. You need to know where to invest, what to invest in, and when to buy.

I can show you all of that.

Or you can keep trying to figure it all out yourself, listening to multiple podcasts, reading blogs and financial publications, watching TV, etc. 

It can be overwhelming.

If you want an easier way, let’s talk about what your options are, where to invest and how to gain financial confidence. Complete the short questionnaire for a phone appointment with me.

P.S. It is your investment choices that will determine whether your retirement goals will be met or not. I can help.