Can I Afford to Retire Now?

Hello-

This is a question plaguing most baby boomers today.  For those on the cusp of retiring, statistics show they plan on working longer.  For those who have decided to retire, the decision may carry long-term consequences.

If you have a 401K plan, the maximum annual contribution you can make in 2009 is $16,500.  However, if you are over the age of 50 you can contribute a total of $22,000.

If you have an IRA, you can contribute up to $5,000, and for individuals 50 years or older, another $1000 can be added.

The problem with retiring now is that since the market downturn, many people lost a hefty sum of money from their 401K.  So the question is:  How much do you currently have available in your 401K and can you live on the pension and retirement funds during this recession?

The only way to determine this is to go over your financial accounts to assess how much is available and how much you will need to live comfortably.  If you find that you cannot afford retirement now, you may need to postpone it for two to three years.  Since we know that this recession may last well past 2009, it would be a prudent step in your favor to wait.

In addition, if you decide to retire at 62 years of age you can delay receipt of the Social Security benefits until you reach age 66.  Why is this important?  The full benefit at age 66 is approximately $1900.  However, if you decide to collect earlier you can lose $500 per month.

Also consider that if you postpone collecting Social Security, there is an 8% credit for each year you do not receive a check up to the age of 70.  The benefit at age 70 would be approximately $2500.  Therefore, the difference between collecting benefits at age 66 and 70 is $1000 a month.

Yes, there is a lot to consider before taking that last step to retirement.  For one woman who retired at age 57, the loss of pension income was significant.  Moreover, her 401K is far less than what it would have been if she had worked an additional three to four years.

Before you decide to retire, make sure that you have enough money saved to see you through this recession and beyond.  If not, you may find that retirement is not at all what you had envisaged.  In fact, you may have to find another job after retirement just to supplement your pension.

These are difficult times.  Weigh all the factors; think it through carefully and soberly before you sign on the dotted line.

-Adam

Calculate your retirement income needs

Hello-

While you can calculate your retirement on your own, the best way to obtain an accurate forecast is to seek the services of a financial planner.

A financial planner can be objective about your finances.  He or she can advise you as to the approximate amount of your pension based on the contributions you have made over the years.

Moreover, they will probably advise you to begin contributing the maximum amount of pension contributions the closer you get to retirement age.  This is significant because it can boost your pension earnings more than you know.

In order to receive the best advice, you have to do a little calculating of your own.  The planner may ask when you plan to retire, whether you plan to move to another state, travel, pursue higher education, and what type of lifestyle you hope to maintain.

You also have to take into account your healthcare expenses.  For example, a city worker may have a healthcare plan such as Blue Cross/Blue Shield and GHI (Group Health Incorporated).  This type of insurance is worth approximately $12,000 a year and is a necessary component that can alleviate expenses resulting from ill health.

If you would like to calculate how much you will need for retirement, there are many online calculators you can use.  One is located at: How much you need to retire calculator

You simply enter your current annual income, 70% post-retirement income, expected annual pension, expected annual Social Security payment, current age, age at which you will retire, and life expectancy.  Note these are approximate figures.  The figure of 70% is the amount of your income that one would need to retire comfortably.

Once the calculations are made, you can then proceed to increase your pension contribution, if applicable, and/or begin a savings program outlined by your financial planner that will yield a high rate of interest and allow you to retire knowing there will always be money available to you.

If you are years away from retirement, calculating your pension income now will give you a clear and concise measure of what to expect.  Here is an example of an individual who did not plan well for retirement.  A man retired at age 57.  He contributed less than 10% to his pension and the result is that he now receives under $1000 a month.  Although he did consult a financial planner, the pressure of the job was such that he had to retire early for health reasons.  He is currently working full-time in another position.

Thanks,

Adam

Stock gains of 84.79% within 3 days…

I’m sending you a quick note right now, because I have something very important to tell you about.

In fact, right before posting this, I just called round most of my own family telling them about this website.

You see I was surfing the Internet the other day researching trading stocks and I came across an interesting website.

It’s about this email stock picks newsletter, and each week this guy sends out a stock pick…

And the average gain so far has been 84.79% within 3 days of the pick being made.

Anyhow I don’t want to tell you too much about this service, because it costs $12,500 to join the newsletter!

But I did a little further research, and after finding some interesting forum discussions, someone pointed me to another website.

You see the owner of this newsletter (who is the stock market genius who makes the picks) recognized he had a problem…

Even though subscribers of his newsletter are able to almost double their trading money each and every week…

The only way he was getting new subscribers, (at $12,500 a pop) was when his subscribers made recommendations to friends and family.

So he thought about this problem and came up with what I believe is an ingenious solution:

At the link below, you’ll be able to type in your name and email address.

For the next 4 weeks after, you’ll receive one stock pick per week (the same pick sent to his subscribers)…

And you’ll be able to see that his service is worth the cost… As you’ll be watching, live, each week as his actual stock picks almost double.

Now…

These stocks can often rise over 100% within a matter of days.

In fact after being a newsletter member for 3 weeks, I invested on the 4th stock pick… and made $1876.00 (pure profit).

Which is precisely why I just rang round all of my family telling them about this website.

Oh but there’s one more thing before I give you the address, there is a limit to the number of the newsletter placements.

Maybe David (who runs the newsletter) will have closed shop, by the time you read this email. If so, don’t worry as he’ll allow you to join the waiting list.

Click here for your 4 free stock picks

Best Regards,

David Lindberg

Are you saving enough for retirement?

Hello-

The 2008 Retirement Confidence Survey indicates that more people are concerned about their retirement, the economy, and health care.

Most people do not have enough saved up to retire on:

Most savings levels are modest— Forty-nine percent of workers report total savings and investments (not including the value of their primary residence or any defined benefit plans) of less than $50,000. Twenty-two percent of workers and 28 percent of retirees say they have no savings of any kind.”

Source

Can you live on retirement savings of only $50,000?

Probably not.

If you retire at 55 or 65 and expect to live 20-30 years, you’re going to need a lot more than $50,000 to retire on.  Social Security is not going to provide you with a comfortable retirement.

How much do you need to save for retirement?

There is no magic number that will work for everyone.  However, you need to add at least another zero to the $50,000 amount of retirement savings.  $500,000 is a good start.  Most will need up to a million or more.

How the heck are you going to save up to a million dollars by the time you retire?

How the heck do you eat an elephant?

One bite at a time.

You need to start, and start now.

The goal is to save at least 10% of your gross income.  Do an automatic deduction from your paycheck and put that into your 401k at work or into an IRA.

Each year as you get a raise or bonus, increase the amount of your automatic deduction.

It’s easier to save for retirement when you don’t have debt to worry about.

Take the steps you need to get out of debt so you can devote more of your income to the future instead of paying for the past.

Work more hours at work, take voluntary overtime, start a second job.  There are many ways to increase your income or supplement your income.  But you won’t find them by watching TV when you get home from work.

If you take the small steps now to start saving for your retirement, you may actually get the chance to retire when you turn 65.  If not, you may be spending many more years at that thankless, unrewarding job of yours.

You don’t want a gruesome retirement do you?

Setup the automatic deduction, enroll in your 401k program at work, get out of debt, increase your income and save, save, save.

-Adam

How to Recession Proof Your Bank Account

It’s happening.

People are losing their homes, losing their jobs, and losing their life savings.

Every where you look, there are signs that we are about to enter a massive recession, and things are only going to get worse.

The solution?

Create income that continues to pour in, even in the worst of times.

No matter what happens, people still need information. The types of information they need or want may change, but the need itself never goes away.

That’s why I’m recommending that anyone who hasn’t already started their own online info business, needs to do so immediately.

The Baby Boomers Guide to Online Income will show you EXACTLY how to do it…

Click here to learn more

…and you don’t even need to be a Baby Boomer.

While the Baby Boomers Guide to Online Income was written for people facing retirement and the uncertainty of social security, its down to earth, proven techniques will work for almost anyone, in any situation.

Here are some questions I received during the last day on the program…

Q. “Who’s the author, and why should we believe what he says?”

A. GREAT question: The author is Nick Marks, and he beat out MAJOR competition to become The 2007 Internet Marketer of the Year.

Click here to see a photo of him accepting his award from Russell Brunson…

Click here to learn more

Obviously he’s not some newbie marketer selling rehashed info he copied from someone else (who probably copied it from someone else..)

Nick is someone you can trust to provide you with honest, relevant step-by-step material that flat out WORKS.

Don’t take my word for it, read the testimonials on his site…

Click here to read more

And there’s no fluff or filler in his e-book. Just straight-forward, honest, tested, and proven strategies for earning a steady online income.

Q. “I understand why he’s including the other bonuses, but what’s up with Bonus #1? Why is that included with this program?”

A. For two reasons: First, you get to see how Nick got started making money online, and learn all his secrets of how he did it.

Second, you may want to use it to build a very lucrative second or third income for yourself.

Click here for more info

Q. “I don’t have a website. Will this work for me?”

A. Nick actually includes a FREE website when you purchase the Baby Boomers Guide to Online Income.

It’s already set up with affiliate marketing and custom blog marketing. Plus it’s search engine optimized for traffic pulling page rank in the top search engines (Google, Yahoo, etc.)

Q. “What if I need help? What if I have a question?”

A. Nick is also going to give you 30 minutes of expert phone consultation… for FREE. You dial the number you’re provided, and you can speak directly to one of Nick’s top marketing experts. These pros have years of experience, so they can quickly and expertly answer your questions and give you any guidance you may need. And you get this expert help for free!

Bottom line, if you want a business that is recession proof, that will earn you money now, next year, and every year, check out…

Click here for more info

Making money ISN’T just for Baby Boomers!

-Adam

P.S. The economy is in serious trouble. I don’t know how bad things will get, but the time to get ready is right NOW.

And the best / fastest way I know of to get your business online and making money is with Nick Marks and The Baby Boomers Guide to Online Income.

Click here to avoid a retirement nightmare

How are you going to save for retirement if you have debt?

Hello-

I read this quote the other day:

“Financial counselors find a growing number of older Americans, in or nearing retirement, mired in debt and seeking debt counseling with little or no money set aside for retirement.”

How can you possibly save for retirement if you have a mountain of debt to pay off that takes up most of your current income?

There are several ways to get out of debt. You can talk to a debt management company like Credit Solutions which is one the biggest debt settlement companies around. They can help you reduce your debt and have you debt free in 12-36 months. And then once you have all your credit card debt paid off, you can work to getting your house paid off and fully funding your retirement plan.

The best scenario is for you to be debt free when you retire. You want to have as little expenses as possible so your money will last you for 20-30 years.

Most people have not save up anything for their retirement and expect the government to bail them out. Unfortunately, we don’t get bailed out like Bear Stearns by the Fed if we make some financial mistakes worth billions. We have to make do with a small Social Security check and live on a fixed income.

You need to get out of debt in order to save for your retirement.

The future will not look so rosy if you still have to make credit card payments when you turn 100 years old.

Get help paying off your debt and start saving for retirement.

-Adam

Add an extra $500 a month to your retirement income

Here’s some alarming Social Security statistics:

$895
Average monthly Social Security benefit check for retired workers in 2002. This compares with $834 for disabled workers and $861 for widows and widowers. (Source: soon-to-be-released Statistical Abstract of the United States: 2003.)

$9,786
Average income for people 65 and over in 2001 that came from Social Security payments. This compares with an average total income of $22,210. <http://www.census.gov/Press-Release/www/releases/archives/income_wealth/001371.html>

So if you’re relying on Social Security to provide you with a comfortable retirement income then you need to think again.

Many people do now know the facts about Social Security and how much it will actually provide in retirement benefits.

Not many retirees let alone anyone can live off $900 a month.

I want to share a free report with you that can help you supplement your income and provide with you with extra $500 a month to your retirement income.

There is no catch. You download the report, you read it, you follow the step by step instructions and you start adding to your income. It’s simple to do, all it requires is work. That’s the big secret – you have to actually do some work.

The good thing is you can do this from home, in your spare time. And it doesn’t cost you anything. And it has nothing to do with MLM or real estate or stocks and so forth.

Get the free report and earn more retirement income.

-Adam

How to make more money working from home free

It’s never been easier to start an online business working from home.There are millions of sites out there that promise to teach you how to work from home and make a bajillion dollars every day online. For a hefty fee as well.

Check out the Thirty Day Challenge for something different. Over the course of 30 days these guys will teach you how to make your first $10 online for free. Yes, for free. No, this is not a free trial offer that you have to call to cancel after the 30 days or anything like that.

These are just a group of guys who’ve made millions online and now are giving back. That’s the catch if that’s what you’re thinking.

Anyone can signup and you can share it with your friends and loved ones.

I did it last year and I’m doing it again this year. It is fun and exciting. And once you learn how to make your first $10 online then you can go on and make the next bajillion dollars.

Check it out at http://www.thirtydaychallenge.com/

And then once you learn how to make the money working from home you’ll be able to plan your retirement a bit earlier.
-Adam

P.S. Bajillion is my trademarked term for a lot of money. :o

The 4 Hour Work Week

Just got back from my Vegas vacation and finished reading my copy of the 4 Hour Work Week – a highly recommend book for anyone looking to escape the 40, 50, or 60 hour work week and who doesn’t want to wait until 65 to start enjoying retirement.

This book offers a blueprint for getting away from your job, working anywhere in the world and making more money – all while you work less than you ever thought possible.

Plus, it only costs just under $12 so it’s a great deal.