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Do Not Put Your Retirement into the Hands of the Government or Corporate ExecutivesPosted by Roth-IRA-401k on: 2006-02-13 10:49:28 in category:
Retirement Headlines [ Print | Permalink / 0 Comment(s) ] Do Not Put Your Retirement into the Hands of the Government or Corporate Executives Unlike many members of my family and my friends, who don’t believe that they will receive any SS benefits, I believe we will always have some sort of a Social Security program. Why you ask? Because our Congressional legislators want to be elected forever. Sure, there are exceptions but my cynicism overrides my sense of their fair play—so I’m convinced that no elected official in Washington D.C has the nerve to pull the plug on Social Security. I can’t predict what changes are going to be made but here are a few irrefutable points: # The eligibility age will be raised. That plan is underway now. # No one should depend on the SS payments to provide enough to live on. # People will live longer and longer and the plea from Gerontology experts to save more should be heeded. Otherwise millions of Americans will indeed run out of money. # Contrary to my belief that we’ll always have Social Security, plan your financial future as if Social Security was going to be canceled tomorrow. If you’re working for a very large corporation, say over $100 million in yearly revenue, (annual sales) I urge you to think hard about how secure your future is going to be. I wouldn’t put my business life and the lives of my family into the hands of corporate executives. If you work for a public company, where usually increasing the value of the stock is Priority One, then you’re in trouble now. The alternative is to have a business of your own. You must protect and build your own financial future. Do not trust your company to do that for you. Every day there are stories/articles in newspapers and magazines across the nation, about hard-working loyal Americans who have lost their corporate jobs due to a multitude of reasons. These people showed up for work every day for years, did their jobs well, minded their own business, raised their kids with spirituality and good principles, instilled hope for the future and looked to retirement as the ultimate payoff. Then one day the infamous “pink” envelope is opened and it’s all over. I recognize that many people think they’re not suited to run a “small business.” But in subsequent articles I’m going to prove that it’s possible. I will change your thinking from working for a large company to being open to have your own little enterprise. Let me leave you with this thought now. Ask yourself if you trust the management of your present employer to provide for you until say age 65. I’ll bet that less than 10% of my readers would say “yes.” By the way, I’m not suggesting that your management is dishonest, but that the so-called Global Marketplace has changed the U.S. economy forever…and it’s going to get worse. A better bet than working for a paycheck, is to own your own business. Yes, this is a risky venture, but who do you trust more---your boss and all of his bosses, or yourself and your spouse or other family members? After working as a business consultant for 45 years, I can offer dozens of examples of great employees who lost all of their company’s pension/retirement programs either just before or after they reached retirement age. They did not have enough years left in their lives to rebuild these lost benefits. Please—do not depend on anyone or anything to take care of you and your spouse when you want to or need to stop working. More on this topic in subsequent articles. Gene Pepper Consulting Your Common-Sense Consultant http://www.genepepperconsulting.com Gene has extensive experience in strategic business planning, business coaching, turnarounds, and exit strategies. His common-sense approach leads to highly successful business transactions. Contact Gene at http://genepepperconsulting.com. Article Source: http://EzineArticles.com/?expert=Gene_Pepper Recommended Websites Open Community Website http://www.business-business.biz http://www.investment-investment.us http://www.retirement-retirement.com Recommended Websites Your custom Retirement Planning. http://www.retirement-plan.us For planning an IRA Rollover this is the website to review. http://www.ira-rollover.us Professional asset allocation and the wonders it can do. http://www.asset-allocation.us Money Managers selected to fit your needs. http://www.money-managers.us Manager with strong national performance rankings. http://www.durig http://www.roth-ira.us |
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