Part 1: Back in the Day

 
Workers working on a B-17 Flying Fortress at the Boeing aircraft plant in Seattle, Washington. 

I can remember a time when people started working for an employer at age18. They worked for that employer until they reached 65. The company rewarded them for their service with a gold watch, a guaranteed pension, and health insurance for life. For many Americans at that time, they relied on the employer provided pensions and Social Security benefits. But things have changed. It is not going to be your parents’ retirement program anymore.  Retiring in this new century is a mystery. Today many workers will need to rely on their own work-related and personal savings plus Social Security benefits.  These savings have to last longer because Americans are living longer, into their eighties and nineties. A longer life will also mean more medical care, some of which will not be covered by the federal Medicare Program.    

Most people don’t know that the whole retirement scene has changed and many American workers have no clue that they are about to walk into a life with no income to live on in relation to their needs. They will also find out that their local, state, and federal government will not be in a position to help them. 

According to a 2007 survey by the Employee Benefit Research Institute (EBRI) suggest that only 43% of Americans have tried to calculate how much they need to save for retirement.  I am writing this to you so that you do not stay up until 3:00 AM worrying about how you are going to afford to retire. I am going to tell you how to plan for retirement.  The earlier in life you start, the better off you will be at age 62 and beyond.

You should be putting away money for your retirement as soon as you start working. Most people cannot put money away for retirement until they have their home, car, and children’s college fund started. OK, I can relate to that.  But by age 50 you should be placing retirement planning as your number one priority.

Your time line will look something like this;

1. At age 50, you will begin catching up with retirement contributions. People over 50 can add an extra amount to 401(k) and other retirement accounts.

2. At age 59.5, No more tax penalties on early withdrawals from retirement accounts. Leaving money in your account means that you have more time for your retirement money to grow.

3. At age 62, this is the minimum age to receive Social Security benefits. If you can delay getting these benefits then you can receive bigger monthly benefit later in life.

4. At age 65, you are eligible for Medicare.

5. At age 66, you are eligible for full Social Security benefits if born between 1943 and 1954.

6. At age 70.5, you must start taking minimum withdraws from most retirement accounts. If not, you may be charged a heavy tax penalty.      

According to statistics, the average American male can count on living past 65 years old for another 16 years. For woman, living after 65 year old, they last another 19 years.

You start by trying to figure out your financial future. 51% of people who tried to figure out their financial future ended up changing their retirement savings plans.

This is the beginning of a 3 part series on how to prepare for retirement. You may want to take notes because I am going to give you information so that you can do personal research into your own retirement situation.

A Special Note for all my reader’s around the world!  

Hi my loyal readers around the world. I just finished making my final plans of my life. I will be retiring in a few short years and moving into my luxury retirement home. I will spend most of my time getting my seven year old grandson ready for the 2028 Olympics. I have no idea what my younger grandson is going to do. As of now, I would say it has something to do with electrical engineering because at 1 years old, he knew how to operate an IPad. But whatever it is, I will be around to lend assistance to his education.


My plans also involves my readers. I am starting an online stock club design to give my loyal readers as much as one million dollars, maybe more depending on when you start my plans. That money will be to remember me by.


Please read the blog below and follow my instructions if you want a chance to get one million dollars.
http://bondinvestments.blogspot.com/2012/06/how-would-you-like-to-have-over-one.html
The younger you are; 35 and below, the greater the chance of getting over one million dollars. If you are starting at 60 years old, chances are you will only make it to $100,000.



I started out at age 23 and spent a lot of time laid off and giving money away to my children for cars. I bought 3 homes. One home was paid off in full. The other I bought in a partnership paid in cash. All my cars since 1971 were the current year and I have not had a car note since 1983. I even gave two girlfriends a car each. That is why I don’t have a million dollars today. But if you become one of my “Greedy Friends” I am sure with my instructions, you can get that million.