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Retirement is a word that is becoming more and more obsolete.  Most employers nowadays only offer defined contribution plans as opposed to the defined benefit plans they used to offer in 1985.  This lowers the cost and liability for employers but it has left more and more retirees unable to retire since they have been forced to provide for their own retirement with little to no knowledge of how to do so.

No RetirementThey have also been forced into the stock market with defined contribution “401(k)”s with little to no knowledge of stock market investing and limited choices in these plans to begin with. 

Alan Greenspan once said that the average American “needs to increase their financial education exponentially“.  This leaves many would-be retirees without enough savings to live on and is helping to maintain high unemployment levels for millennials (those in the 19-34 age group).

 

Large U.S. employers continue to eliminate traditional pension plans that pay retired workers a monthly lifetime pension in favor of defined contribution and hybrid plans that offer lump-sum payments at retirement, according to a recent survey HR consulting firm Towers Watson.

 

Among Fortune 1000 companies, only 11 percent still offer a traditional pension plan to newly hired salaried workers, down from 14 percent in 2011 and continuing a long slide from 90 percent in 1985. Conversely, in 1985 only 10 percent of those companies offered only a defined contribution plan to salaried workers — today that figure stands at 70 percent.

 

The primary reason for this trend has been financial: Employers don’t want the exposure to unfunded liabilities if capital markets perform poorly. At the same time, until recently employees generally hadn’t expressed a preference for traditional pension plans and, in fact, have largely embraced 401(k) and other defined contribution plans.

 

But this trend has its consequences in the workplace, as large numbers of baby boomers have 401(k) balances that are inadequate to fund a traditional retirement. To make matters worse, most retiring workers don’t know how to turn their nest eggs into reliable retirement income. Employers also haven’t provided much help by offering retirement income options in their defined contribution plans. Read more here…

The Retirement Myth

The writing has been on the wall.  We have been told that if we work hard all our lives, we will be taken care of in our golden years.  But here we are, and after all those years of hard work, we are still having to work even more until you are forced out with a retirement party and a nice gold-plated pen for all your “years of dedicated service and hard work”.

 

I am here to scream at the top of my lungs that this plan DOES NOT WORK! Today’s retirement is a myth. Things are only getting harder for retirees. Social security is crap and not keeping up with the true costs of living.  Government figures are a sham while they deliberately work against you so that you don’t get what you are entitled.  Oh, and by the way, your taxes are going up too!

 

Luckily, there is another way.  You can finally say, “Enough is enough. I don’t want to look forward to a future of asking if you want fries with that!” 

 

What you need to do is to get the three “E”s (Education, Experience, Excessive Cash) so you don’t have to rely on the three “F”s (Friends, Family, and the Federal Government).  Click here to get started…

 

Your financial future is literally at stake.  Are you going to let the “system” leave you penniless in retirement or are you going to stand up and take control of your own financial future?

 

Here is how you can start getting those 3 “E”s, especially “excessive cash”:

 

CLICK HERE TO GET STARTED

Apply Now

 

Mike J Anthony

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Mike J Anthony

 

 

 

 

401K Retirement A Pipe Dream for Millions

The TV show, 60 Minutes, profiled a segment on 401k retirements and how they are not working for millions of workers across the country.  In typical 60 minutes fashion, the reporter talked to people on both sides of the issue: employees themselves and one of the leading Washington lobbyists for the mutual fund industry which receives huge benefits from the 401k plan.

401k Retirement

The show pointed out that 401k plans have several fees that are not even disclosed on the prospectus. Some are listed in there but others are not.  The mutual fund industry seems to be just fine with this lack of transparency.  Any attempt at complete transparency, such as a government bill forcing them to do so, is met with powerful backlash from the mutual fund industry’s lobbyists and such a bill never reaches the legislation floor.

401k Retirement Shenanigans?

This particular show made me hopping mad, mad, mad!  This is because one of the interviewees was a 54 year old single woman who worked as an executive assistant for 30 years and has little to show for it.  Her 401k has lost more than half its former value at the time she is looking for employment and not too far from retirement herself.  She started crying during the interview as she reflected on the fact that her 401k retirement is looking more like a pipe dream.

Another man who is already at retirement age said he was down $140,000 at a time when he needs the money the most.  He said there is no way he can retire now and will have to work several more years at least.

The real sad part is that this story is repeated over and over among millions of people all over the country.  So the reporter asked the lobbyist why the mutual fund industry will not take steps for transparency and why isn’t the 401k plan working.  The lobbyist just stated that “it’s not the fault of the 401k but the fault of the entire financial system” and also went on to say that employees should be responsible for their own decisions.

It was also revealed on the show that 401k plans were never meant to be a retirement plan from their beginnings in the late 1970′s.  401k accounts were only meant to be supplemental accounts to supplement Social Security and defined benefit pension plans, which by 1985, 90% of employers were using as compared to 10% today.

But employers found these 401k accounts to be much cheaper than having to fund and payout pension plans so they started to scrap them in masse.  The mutual fund industry had no complaints as this led the nation’s workforce directly into their products!  They jumped on the bandwagon by advertising their products as retirement vehicles, when in truth, they are not.  But the 401k going mainstream was such a boon to the mutual fund industry that they don’t want to see any changes to their profit margins, which are extraordinary.  This is why their lobbyists fight any attempt at true transparency.

So once again, the little guy is being destroyed by those with all the financial might and power, which they achieved at the little guy’s expense.  I don’t know about you but this makes me very angry and you should be too if you work for a living and have contributed to a 401k retirement plan.  This is like being herded into a hen house guarded by the same wolves who created these programs.  They created these just for YOU…the working stiff…and “stiff” is just the word that describes millions of employees who have been stiffed into these so-called retirement accounts.

The 401K Plan was not Designed for Your Retirement

There is a way out, but this route is only for those with the courage to step outside their comfort zone and take matters into their own hands.  You can start with increasing your financial education and realize what the financial system is really about.  It was not built so that you can “retire” in the traditional sense of the word.  The powers that be have unleashed a financial attack on the money supply and your so-called “retirement”.

The Rothchild’s, one of the richest families in the entire world, issued this communique in 1838:

“The few who understand the system, will either be so interested in its profits, or so dependent on its favors that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantages…will bear its burden without complaint, and perhaps without suspecting that the system is inimical to their best interests” (Rothschild Brothers of London).

Another thing you can do is start your own business.  There are many online opportunities that could afford you the retirement you so deserve. You work hard anyway, so why not refocus those efforts, so that you eventually won’t have to worry about what’s left over in your 401K, or other government shenanigans.  Here is one you can learn about right now.

Here’s what to do:

Step 1 – Take this 30-second quiz:  http://track.mobetrack.com/SHKJ2

Step 2 – Watch the video presented afterwards

Step 3 – Sign up to join the MOBE community and learn how to battle these forces of evil for good!

 

21 Steps to Big $$$

Worried About Retirement? Here’s Why Its NOT Too Late…CLICK HERE

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