America needs to take a whole new look at how they save and prepare for retirement. One of the biggest fears of people approaching retirement age is that they will outlive their money and become a financial burden on their children. If you were born in 1960 or later, you will have to wait until you are 67 to collect full Social Security benefits.
A recent study conducted by the Center for Retirement Research at Boston College showed that a rather large percentage of Americans are facing a decline in their standard of living when they retire. In order to have enough money to preserve the same standard of living they enjoyed prior to retirement, people may have to postpone their planned retirement date. They may have to work into their late 60’s or maybe until they are 70 years old.
Today, people are living longer than ever before. It is not unusual to see a very active 80 year old or even someone living well into their 90’s. With the strong possibility that you may live another decade or two after retiring, it is extremely important to take control of your retirement account today. You can not afford to rely on the government, your family or the generosity of strangers to support you once you stop working.
A Self Directed retirement account, such as a Solo 401K or Checkbook IRA from Sense Financial, allows you to have full control over your retirement account. It giving you the flexibility to use your retirement funds to purchase income-producing real estate, invest in mortgage notes and choose other non-traditional investments. A Solo 401K or Checkbook IRA from Sense Financial allows you to take full advantage of the outstanding investment opportunities in today’s real estate market.
Instead of just hoping that everything will turn out okay, be proactive. Take the positive step and begin learning how you can be in control of your retirement account and ultimately of your financial future.