Millions 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 Amberger.

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 Amberger.

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 today.

 

 

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