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Financial Insecurity

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Financial insecurity has become the number one reason for Americans to put off retirement. While a good wealth creation strategy is the answer, even those who may understand something of the financial systems of the world often fail to create lasting streams of wealth that can see them through retirement.

Beyond retirement accounts and pensions, the average man or woman has very little knowledge about investing and creating wealth. The old line, “I’ve got some good news and some bad news” rings oh so true. Good news is you, sir/mamm, are going to live longer. Bad news is you, sir/mamm, will need a lot more money to live.

money flowerFrom the earliest of years the formula for success in life was training and education to prepare a person for a working life.

Go to school

Get an education

Learn occupational skills and expertise

Get a good job

Earn a paycheck


This is a formula that has worked very well to create a workforce of lifelong workers. It accomplished the goal of supplying a workforce very well. But it does little to prepare for the end of that life cycle.

This formula is very good at producing job-dependence, but not so good at producing a financially independent society.

The proof of this is in the statistics. By retirement age, 96% of the population in countries like Australia is not financially stable enough to stop working and live in comfort without depending on others. In the U.S., almost 25 percent of those who’ve reached retirement age are still working (of those aged 65 to 74).

More and more Americans are taking back their future from a depressed economy and reversing a decade’s long trend of retiring early. With a failing system of Social Security and Medicaid and an aging population it’s no wonder many boomers are working longer before retiring.

There are a number of reasons more people are working to an older age. Some just because they can and others because they want to, but increasingly more and more because they need to.

Take a look at some of the latest data released just this month from the Bureau of Labor:

– Year to year employment has increased for Americans 65 and older.

– Decreases in employment for those under 65 in each of the last three months.

– Last year 15.5% of Americans 65 and older were in the labor force. This is the highest rate since 1971 and this is an upward trend from a low of 10.4% in 1985.

– Until 2002 part time workers always outnumbered full time workers among older workers, but 56.3% of workers who were 65 or older worked full time last year. This is a new high.

– In the last 30 years the 65 and older work force grew by 101%, compared with an increase of all workers at only 59%.

– A whopping increase of 172% can be seen in workers over 75.

Our money or the money we thought we had keeps shrinking. Retirement plans keep getting battered by the financial markets and housing equity keeps shrinking at the same time.

With all of this in mind what matters right now is looking to the future and developing a mindset that goes beyond retirement.

A financial exit strategy, which is what is learned from a wealth creation education, is the means to exiting the working world for good, at any age. It is the one reliable way to create wealth that can last a lifetime. The financial strategies (financial intelligence) necessary to utilize the world’s financial systems to build streams of income (what is referred to as putting money to work for you)

Wealth creation is the exit strategy that allows people to create the level of financial freedom necessary to live a life in charge. Through wealth creation, any person can gain the financial stability that will ensure that he or she will be able to enjoy a life free from the cycle of the working life.

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Wednesday, July 15th, 2009 Wealth Preservation

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