It’s Not Getting Better: Will Our Weak Economy Destroy Your Retirement Dreams?

I don’t need to remind you how devastating the economic collapse of 2008 and 2009 was. No retiree or investor will soon forget that.

But, since that time, the standard media “truth” has been that the economy is slowly recovering. They point to falling unemployment as a key indicator. Investors and retirees become more comfortable in their belief that the economy will soon return to full strength and it will be smooth sailing from there.

But what if that’s not actually the case? As a recent Heritage.org report explains, there is reason to believe that the economy is much worse than “experts” are letting on:

The American economy is experiencing the slowest recovery in 70 years. In addition to persistently high unemployment, labor force participation has fallen sharply since the recession began in December 2007. Today, 6.9 million fewer Americans are working or looking for work. This drop accounts for virtually the entire reduction of the unemployment rate since 2009 because those not looking for work do not count as unemployed.

Demographic changes explain less than one-quarter of the drop in labor force participation. The Council of Economic Advisers (CEA) estimate that demographics explain half of the drop in labor force participation, but the estimate ignores the effect of rising education rates. The baby boomers are aging and thus more likely to retire, dropping out of the labor force, while the population has become more educated and thus more likely to work. These demographic changes together explain less than one-quarter of the drop in labor force participation.

The remaining drop in participation primarily comes from millions more people collecting Social Security Disability Insurance (SSDI) or attending school. While those enrolled in school will probably return to the labor force, those going on the disability rolls will not. They will remain permanently outside the labor force.

What if the economy is still struggling on the brink of collapse? What would another financial crisis do for YOUR retirement prospects?

Making things even grimmer, The Obama 2015 Budget Proposal plans to overhaul many retirement benefits. Learning about these changes now could be the difference of hundreds of thousands of dollars. Learn from my newly released book Whattodo@62 – How to Have a Protected Retirement Income Plan. Simply register for our new educational webinar at LearnHowToRetireNow.com

Our economy is in trouble, despite what the media would have you believe. That’s why it’s more important than ever that you have a solid retirement protection plan. Learn how to eliminate your vulnerability to market loss risk, as well as your exposure to rising taxes and inflation. We eliminate market risk; NONE of our clients have lost a single dime to the market. Prior gains can’t be lost, either.  This is why our clients have safely doubled and some tripled their retirement savings earning over 8% tax-free during the worst economic downturn since The Great Depression.

Don’t let an economic collapse ruin your retirement. You can learn more and empower your retirement in under an hour.  Space is still available to register for our upcoming Wealth Protection Webinar at: www.LearnHowToRetireNow.com.

 

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