Wake up America... Your Retirement is in Jeopardy!
The Family Retirement Plan
Free Retirement Planning Video
Will my current retirement plans fail me?
The core reality of retirement planning today involves starting early, funding throughout your working years, and staying focused on your plan. Unfortunately what many people think is the “right” way to prepare for retirement — the 401(k) plan — can actually just exacerbate your problems.
Traditional 401(k) retirement plans may actually work against you once you retire and start taking income. The reason, all of those dollars you deferred will be 100% taxable and count as ordinary income. This looming tax trap may occur at a time that could be devastating to your retirement income, considering that you don’t know what future tax rates will be.
Request more information on the future of your 401(k) and what you can do to protect your retirement income with The Family Retirement Plan.
Social Security — once considered the foundation of retirement planning — is now projected to replace less of a worker’s pre-retirement income than ever before in history.
Consider this fact:
“Social Security replaces about 41% of the average earner’s income at retirement and is forecast to fall to 30.5%.”1
Taxes will play a vital role in the future, and may dramatically impact your retirement. Currently the United States government has more than $100 trillion in unfunded liabilities, and more than $16 trillion in debt (Source: www.usdebtclock.org). How are we going to pay off these debts? The only way the government can generate revenue is through taxes. With the exception of a few years in the mid-1990s, each year the US Government has spent more money that what it received in taxes. This spending has resulted in the significant amount of past debt that we have to pay off. Many experts believe we need to both cut government spending and increase taxes to repay the $16 trillion we owe.
Consider this quote:
“We would need to increase tax rates across the board by about 2.5 times today’s level to close the financing gap.”
— David WalkerFormer Comptroller General & Head
Of the US Government Accountability Office