Friday [Sad] Humor - American Workers Aren't Financially Prepared For Retirement
I will do little in this post, but to offer it as another example of a broken [by design] cradle to grave system and yet if we recognize the pain points of those affected, we can be the ones, as part of the knowledge industry to help, inform, educate, empower and liberate millions from a dreary outcome which the conventional way and society has to offer to generation after generation.
The post was inspired by a Bloomberg article citing to a report from the World Economic forum according to which, retirees will run out of money 10 years before they die.
IS THIS THE BEST WE CAN DO AMERICA?
The sum and substance of the article follows below:
American workers aren't financially prepared for retirement, with the average 65-year-old saving enough to cover less than a decade of costs, according to a report by the World Economic Forum. That leaves the average U.S. man with a savings gap of 8.3 years, while women, who live longer, face a 10.9-year gap. The U.S. will have the world's largest savings shortfall at $137 trillion by 2050, the report found, as traditional pensions have largely been replaced by defined contribution plans that shift responsibility onto individuals.
I hope that you will find both value and "ammunition" in this post to use in your marketing efforts.
If the conventional employment, education and retirement are broken now, how will they be better off going forward into the future, and if so, what will that massive change be?
Blessings!
Recent Comments
13
great post,
Don't forget that financial education is something that everybody talks about but few take the time to get and apply.
That education should also start somewhere in high school; kids need to know that money not only doesn't grow on trees but that credit cards aren't made for cash advances and should be paid in full every month to avoid nasty high interest rates..
have a great week-end,
Marc
Marc,
Like the apostles we will be the ones to do the education, empowerment and liberation.
The educational system is part of "The Funnel" broken system we all have been pushed through.
It is our job, our duty and our sacred honor to bring the ministry of financial independence to the masses yearning for that.
Blessings!
While in Canada we 'present' a 'pretty face' so to speak, our future is no brighter.
My mother is expected to live on less than $1000 per month.
Shaunna,
We all know that most of retail is way doan, brick and mortar stores and national chains are closing.
That means that, at least in most developed countries, and beyond online shopping is the emerging and perhaps irreversible trend.
In addition to the other specific pain points I have been pointing out in my recent posts here our potential group of demographics is huge, even with competition amongst us.
No sole online number of stores or entrepreneurs can cater to th entire world whose population is growing.
We can be part of that disruption and approach it from a moral obligation standpoint to educate, empower and liberate.
But, we need to start having that mindset and to execute our plans towards those goals.
IF WE DO NOT DO IT, WHO AND BY USING WHAT SYSTEM WILL MAKE IT HAPPEN AND MAKE IT HAPPEN BETTER?
Blessings.
This one is close to my heart. There’s nothing more heartbreaking than an seeing elderly person struggling, yet they spent years working hard.
It’s just not right.
Jane,
Cannot agree more.
We all need to be like missionaries, relentless and try to rescue as many people as we can.
If only WA members will see it and approach it from this moral angle.
EVERYONE, myself included, is always worried where to find the audience.
My posts point to not only the pain points but to the precise demographics.
Blessings!
Government reports show that American life expectancy continues to decline.
So there won't be a need for retirement savings accounts at some point in the future. (a little gallows humor)
Glen,
I do agree, plus you and I do not need the Nigerian billionaire's treasure either.
We can surely just live on inhaling oxygen, in varying degrees of pollution, live long and be happy .
Blessings!
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Excellent article, more people need to be aware of this financial advice, my son has taught his boys the benefits of savings. More young people should know this. thanks, Deanna
Thank you kindly.
It is not as much about savings as much as seeing online marketing as a means of escaping the conventional way which is morally and economically bankrupt.
Blessings!