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3 Reasons Why Financial Planning and Retirement Won't Help Most People

David Lewis

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It may be too late for you to do anything about saving your retirement, but then again, I don't know anything about you. Financial planning and retirement is a hot topic these days - and for good reason. About 1/3 of the country is going to retire. But that spells bad news for everyone. With the 2008 elections coming upon us, one of two things will happen: 1) the economy will get better or 2) it will get worse.

That's so obvious that it sounds stupid, but how many people are ignoring that right now and focusing on who the next president will be? Most Americans believe that one man can initiate a change in America to save their retirement (social security) from certain disaster. But Social Security is only 1/3rd of the problem. Pre retirement planning is really for those who are still in their 30s and 40s, not for those who are approaching their mid 50s, and those who do pre retirement planning are STILL overlooking one critical part of planning.

The real reason most people won't “make it" in retirement is not because they didn't meet with a good financial planning retirement planner. . . although that certainly helps. It's going to be because of things like rising health care costs. And, that is something that no politician can do anything about unless Government spending is dramatically reduced. That means cutting 3 of our nation's biggest social programs: Social Security, Medicare, and Medicaid.

But wait, don't you NEED social security? Most people do. They haven't saved enough money to become self-sufficient in retirement. Social Security has forced this nation into a state of self-reliance. We can't cut benefits, yet we need to (at least in some areas) in order to drive health care costs down for everyone.

Most people save for retirement, but how many are saving for future health insurance costs? Are you?

Fortunately, if you are young enough (and sometimes even if you aren't), there are a few ways you can try to pull yourself up and give yourself a fighting chance for the future. The information is freely available, but it does require hard work and dedication.

David C Lewis, FMM, RFA is a financial planning retirement planner and the founder of Twin Tier Financial. His website provides free information about financial planning and retirement .


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