Already on ArticleSlash?

Forgot your password? Sign Up

Experts Told My Dad He Can't Retire

 


Visitors: 317

My father is 55 years old. He had a target retirement fund, and was planning to retire in ten years. My mother has also worked most of her life, had a decent retirement fund in place, and planned to work until she was 65. It looks now like this will not happen. My parents chose these funds because they were told they were a great mix of assets in different classes which increased the diversification of their portfolio.

My father's financial adviser told him this type of retirement vehicle would become more conservative the closer he got to retirement age. Unfortunately, my parents have lost between 30- 40% of their life savings. My dad's financial adviser told him to forget about retiring.

This caused a tremendous amount of stress on both of my parents. It even caused my father's blood pressure to rise. They were good friends with my dad's financial adviser, and trusted him implicitly. What were they supposed to do now?

Postponing Retirement

In 2008, most 401(k) investors saw their retirement dreams shatter. A survey conducted by the association of retired professions recently reported that 2/3 of working Americans over the age of 45 will have to postpone their retirement. These numbers are staggering and will have long term consequences on the future of America. To say Baby Boomers are concerned is a vast understatement.

What Can You Do?

If you are a Baby Boomer over the age of 50, there are several options to consider.

You can switch your investments over to a fund with different allocations that are closer in line with your new financial goals.

You can shop for financial instruments with low investment expenses. Simply compare costs of doing business with different fund managers. This can save you literally thousands of dollars in commission fees.

Retire Mortgage Free

An increasingly popular way to be able to retire at all is to pay off your home mortgage early. By using a mortgage accelerator, you can typically shave 13 years off your mortgage debt. You can even purchase a second home without changing your mortgage payment amount. You can rent out the second home, and enjoy a passive supplemental income during your retirement years.

Don't Panic

My parents were able to pay off their mortgage by using a mortgage accelerator. They paid off their other debts, and rolled the rest of their assets over to a more conservative fund. They just bought some investment property that will continue to bring in supplemental income after they retire. You can do the same thing, and have a positive outlook on the future.

To find how fast you can eliminate your mortgage debt and retire early, please go directly to http://www.eqxl.com/mortgage-accelerator.html , enter your information directly into the free mortgage pay off calculator and within 4 seconds it will reveal your savings for your specific situation.

And we will give you a valuable guide that reveals the steps to take, so that you can be on your way to being mortgage free today.

(529)

Article Source:


 
Rate this Article: 
 
Acne - What My Grandmother Told Me
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

We Told You So

by: Antonis Loizou (August 13, 2008) 
(Investing)

Network Told Off About 3G

by: John Gray (February 27, 2008) 
(Communications/Mobile Cell Phone)

I Did Do What God Told Me to Do Didnt I?

by: Dave Earley (July 01, 2008) 
(News/Religion)

20 Ideas I Wish I Was Told When I Was 20

by: Dennis Harting (March 06, 2008) 
(Self Improvement/Success)

Ive Just Been Told Ive Got Diabetes Now What Do I Do?

by: Robert Tracy (June 17, 2008) 
(Health and Fitness/Diabetes)

What the Dermatologist Never Told You

by: Amy Noyes (April 11, 2008) 
(Health and Fitness/Anti Aging)

If Only I Had Told Him Sooner!

by: Don Westacott (April 24, 2008) 
(Business/Change Management)

Married and Cheating They Told You So

by: Daryl Campbell (June 23, 2008) 
(Relationships/Affairs)

Contrary to What Your Upline Told You

by: Lynn McArthur (July 17, 2008) 
(Home Based Business/Network Marketing)

Acne - What My Grandmother Told Me

by: Karen Cheong (July 20, 2007) 
(Health and Fitness/Acne)