of Baby Boomers are in jeopardy of a retirement nightmare
BALTIMORE /PRNewswire/ --
Every eight seconds, another person in America turns 50. That means
78 million retirees (and growing) are in for the shock of their
lives. After 60 years of unbridled prosperity, a barrage of crushing
changes will wipe out retiring baby boomers for good - pushing
millions of unprepared retirees into poverty.
"This isn't a fear tactic.
If you're not careful, you'll outlive your retirement
money," says Christoph Amberger, executive publisher of the
Taipan Group, a financial publishing company who has
released the findings of their retirement report called the
"Retirement Rescue Plan."
The results of the report were
shocking, reports Amberger. "Even if you've been maxing out your
401(k), your IRA, have been building up your pension plan, and your
house has tripled in value, you can still run out of money faster
than you think."
The problem is people are living
longer, while saving less money. It's a new threat called the
"longevity risk." According to the 2005 White House Conference on
Aging, not only will people soon be living to 100, but they may also
live to reach the "natural cap" of about 120!
"Now add in the fact that in the
U.S. personal savings rate - once as high as 11% in 1970 - is less
than 1% today and you can see the depth of the problem," states
Half of American households headed
by 50- to 59-year-olds have $10,000 or less in their 401(k)
accounts. In fact, just 21% of workers at all private companies
participate in work-defined benefit plans.
Think the U.S. government will
help? Think again! President Bush has declared that Social Security
is "headed toward bankruptcy." In terms of present net value,
Medicare is running $63 trillion short. Social Security is $8
trillion short ... with expenditures surpassing payroll-tax receipts
starting in 2018.
"Most people are aware of problems
with Social Security because the mainstream media and even Congress
are paying attention to America's retirement nightmare, but very few
know how to create a comfortable retirement for themselves," says
That's where the "Retirement
Rescue Plan" comes into the picture. The Taipan retirement report
details the problem, but also offers solutions. As Amberger
explains, there's one simple decision that could mean the difference
between running out of money in ten years ... or being $2.1 million
richer in five years.
Amberger -- the author of the book
"Hot Trading Secrets," delving into ways investors can earn safe
profits using scientifically proven trading techniques -- is the
executive publisher of the Taipan Group, LLC, a Baltimore-based
publishing company specializing in financial alternatives. He is
also the editor of the free e-letter "Dynamic Market Alert,"
offering readers exclusive investment insights you won't get from
your broker, your 401(k) manager, or from anywhere else on the
Internet. Whether it's how to protect your retirement funds, profit
from new alternative energy opportunities, or the coming boom in
nanotechnology investments, the global network of experts at
"Dynamic Market Alert" offer you the investment strategies you need