Retirement Planning
Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.
Retirement Have You Planned
Here I want to show this video that I just made.
I don’t know what other people have done as far as planning for retirement, if you watched the whole video then you know that I did not make a plan. So here I am on Social Security with a small stipend from a pension fund living from month to month. Some days it feels like I am barely existing.
According to the treasury department and their statistics americans are living longer.For example, couples both aged 62 years have a 47 percent chance that at least 1 of them will live to be 90 years old. And according to the Social Security Administraion 28.3 percent of income for those 65 and older in 2008 was coming from retirement plans. Also according to existing data a greater number of people are participating in employer-retirement plans. Here is a chart of that data.
Figure 3: Number of Active Participants in Employer-Sponsored Retirement
Plans (in Thousands) by Type of Plan (CYs 1977–2007)
19,407 22,619 21,633 25,222
28,427
29,678
28,058
66,873
52,868
47,651
38,676
34,853
23,421
14,600
86,280
74,501
70,270
63,898 63,280
53,099
42,658
0
20,000
40,000
60,000
80,000
100,000
1977 1982 1987 1992 1997 2002 2007
Calendar Year
Active Participants (thousands)
Defined Benefit Plan Defined Contribution Plan Total
Source: Department of Labor, Employee Benefits Security Administration, January 2010 “Private Pension Plan
Bulletin” and February 2009 “Private Pension Plan Bulletin Historical Tables and Graphs.”
Needless to say these stats are outdated, I just wanted to give you an idea of what is being done as far as retirement planning.
The main purpose of this post is to talk to the people that have not planned for retirement like me.
I really don’t know why I never planned life just moved way faster than I thought it would. So now
I am here starting my golden years and really nothing to show for the life I have lived so far.
Now lets get to what I have learned over the past two months. I joined Empower Network and it might seem to some that I have gone back to school. However this education is way more interesting than actually going to school. I never thought I would take to learning about marketing on the internet, reading, listening to audios of people that have and still are succeeding in this business. Yet here I am and I can honestly say that I am loving it.
I have stepped out of my comfort zone in a lot of ways with this business, such as making videos.
Even though I have only made 3 so far I can see the difference between the first and the third. I am interacting and enjoying getting to know more people via facebook and this business.
What I really want to convey is this message to anyone that has not planned for their retirement, is that Empower Network can not only help you finanicially but also by giving you inspiration and something to achieve and make life better.
I have wanted something like this most of my life. I have stated before that I wish David Wood had been around when I was younger, heaven knows where I would be today if that were so.
No matter what you have or haven’t done as far as planning for your retirement, I hope that this will give you some insights on what to do.
Granny with A Plan
P.S. Come Retire with me click the link below.