When is the best time to prepare for retirement?

When do I plan for retirement?

At age 65, after 40 years of work...

• 3% of us are Wealthy (live the lifestyle we please).
• 10% of us are Well Off (can afford an annual vacation).
• 60% earn less than $20,000 per year.
• 27% of us must live off government assistance.

75% of the Wealthy owned their own business!

– Many people go through their whole working life only to find that retirement is a miserable, day-to-day existence, living off their monthly Social Security check.

– In the past three years your 401K or investment portfolio could easily have lost 25 to 75 percent of its value.

– A survey of 1,500 Americans age 45 and older found that 69% of them plan to work after retirement. A majority of respondents said they'll keep working because of need.

– Are you aware that most people retiring at the age of 65 must be prepared for 30 years of living off their pension, social security and investments?

– The AARP conducted a national survey of 50 to 70-year-olds in December and found that 77 percent of those questioned had lost money in the stock market, with 9 percent losing more than half their portfolio. Twenty percent postponed retirement plans as a result, and one-third of those who had lost money in the stock market had returned to full or part-time jobs.

– Demographic and economic factors seem to be pointing to people working longer in their life, he said. We're living longer, with better overall health, and the jobs no longer require as much physical strength.

One of the most effective ways to increase your equity and build for your retirement is to own your own business. Even a part-time business, adding $500 - $1000 a month to your retirement investment portfolio can increase that retirement portfolio by hundreds of thousands of dollars.

If you are 45 years old and plan on retiring at 65, a mere $1,000 extra a month invested in the stock market (where there has never been a 20-year return of less than 11%) can increase your holdings by more than $865,000! This is the power of a second income to build retirement.

Don't let the stress of coping with an under-funded retirement future, be a self-fulfilling prophecy and limit the time you have to enjoy the sunshine years. Click here and resolve to do something about it today.

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