Why Retirement May No Longer Be An Option

By Jim Berg and John Atkinson 

1. Baby Boomers Nervous 

Today, with recent advances in medical technology, your retirement could very well be a full one-third of your life, i.e. 30+ years. 

Until the Global Financial Crisis, many baby boomers had been planning to retire soon. They were preparing for what they had hoped would be the best time of their lives, with time and money to enjoy what they like doing best. 

However, an article in  USA Today said “ Baby boomers are starting to retire, but many are agonizing about their finances and believe they’ll need to work longer than they had planned, a new poll finds. 

The 77 million-strong generation born 1946 through 1964 has clung tenaciously to its youth. Now, boomers are getting nervous about retirement. Only 11% say they are strongly convinced they will be able to live in comfort. 

Fifty-five % said they were either somewhat or very certain they could retire with financial security. But another 44% express little or no faith they’ll have enough money. 

Underscoring the financial squeeze, 1 in 4 boomers still working say they’ll never retire. That’s about the same number as those who say they have no retirement savings.” 

In this article we look in-depth at why retirement is no longer an option for many baby boomers and compare financially the outcomes of living ‘in hope’ vs. using Jim Berg’s common sense investing approach. .........

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