OMG - 5/4/13

In this week's edition:  OMG Is this email not displaying correctly? View it in your browser.

THE RETIREMENT GAMBLE 401(k) plans and IRAs have all but replaced pension plans.  This has resulted in the direst impending economic catastrophe this country has ever had to contemplate.  Forget about sequestration, fiscal cliffs, banking collapse, the great depression…and even the civil war. Shifting the responsibility of creating retirement incomes from professional pension managers to individual employees may result in over 40 million retirees having nothing more than social security (if it still exists) to live on 20 years from now. Currently, more than half of all households going into retirement have not saved enough money to last their lifetimes.  Given that the financial burden will then shift to family (and even worse…the government/taxpayer), America is well on its way to becoming the next third world country. Not an exaggeration.  Not a joke.  This is the first installment of a series I'll be writing on this topic.  I am currently in the pre-release phase of my new book "Rabbits Garden, Fables for your 401(k)." co-authored and illustrated by Wendy Wilkins of Wiser.  More on that later. For now, if you are investing in a retirement plan offered by your employer or on your own, you must watch the Frontline expose' at the link below. I'll warn you, this is over a half hour long.  BUT BEFORE YOU SCOFF, think about how much time you spend considering your retirement savings.  Studies show most people spend more time each year planning a vacation than planning their retirement.          I know none of you asked for this job.  I know most of you are not experienced or knowledgeable enough about creating a lifetime income stream from investments to take this job on.  That said, like it or not, qualified or not, it's now your job.  So start doing it…now. This first part might make you angry and/or scared.  So we might as well get that out of the way.  If you hang with me through this series I'll deliver what I believe achievable solutions to improve a situation warranting dread. If you don't watch this now we both know the chances that you will diminish drastically.  Even if you don't have time to watch the whole thing, a few minutes considering your retirement is better than none - so go ahead and click the link now. http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/ I welcome your questions and comments, simply reply to this email. Marc Becker, AIF Managing Partner, Wiser Financial Coaching, LLC Wiser Financial is a Registered Investment Advisor Firm To read past articles and view past videos, visit: www.marcbecker.tv