After assuming retirement will last only 10-15 years (possible big mistake) and after reviewing the hard facts;<\/p>\n
In 2010, the American Academy of Actuaries says that the average 65YO American male can expect to live to 84\u00bd, with a 30% chance of living past 90. The average 65-year-old American female has an average life expectancy of 87, with a 40% chance of living past 90.<\/p>\n
For those that live longer….there are options
\n1. Work longer into “golden years”
\n2. Work 2nd or 3rd job now – requires finding one.
\n3. Save more into 401k’s and IRA’s which tend to be investing in the declining stock market.
\n4. Buy real estate and wait – requires funds now and buying right property.
\n5. Start a traditional business – requires funds, time and a high tolerance for risk
\n6. Buy a franchise – requires funds and time
\n7. Build a business that produces income based upon the efforts of many versus just your own…requires time and being mentored.<\/p>\n
#1 is sadly what some financial advisor’s are recommending, and is likely what most people will do because it requires zero extra effort…and still leaves a big gap for when they do finally retire.
\n#7 is what the few, the smart, and the bold will do because it only requires putting aside the fear and asking for help. (oh that darn ego gets in the way)<\/p>\n
What’s your plan?<\/p>\n","protected":false},"excerpt":{"rendered":"
After assuming retirement will last only 10-15 years (possible big mistake) and after reviewing the hard facts; In 2010, the American Academy of Actuaries says that the average 65YO American male can expect to live to 84\u00bd, with a 30% … Continue reading