How to avoid running out of money in retirement
The closer we get to the retirement age, the more concerned we become, thinking how are we going to survive not getting a paycheck. The thought can be overwhelming.
However, a survey done in 2016 by the financial firm found that 60 percent of baby boomers feared running out of their savings more than death.
There are a lot of us boomers worried about what will happen if the retirement crisis, that every financial institution is predicting does occur.
Will we have the financial capacity to support ourselves, and how will the country address the issue, and what might retirement look like in years to come?
It is unlikely that Social Security will be able to pay full benefits by 2035, but the problem is not only with the ability of the government to pay full benefits through Social Security.
Private employer-sponsored plans that offer traditionally defined benefits are also declining.
And while companies are offering pension plans that are defined contribution plans, many individuals aren’t saving enough, according to the Government Accountability Office report.
Caring for retirees will fall primarily on public assistance and government entitlement programs, like Medicaid.
And with the cost of Medicaid getting higher and is predicted to go even higher, it will put substantial additional pressure on the federal and state governments.
And it must be remembered that the older we get the likely wood of us needing more medical aid is something we need to look at.
And at the moment Medicaid does not pay or compensate for everything some examples are:
Medicaid does not pay for routine dental fillings and cleanings, neither are dentures and other dental devices, hearing aids or the exam to select and fit the device, vision checks for prescribing glasses, most types of cosmetic surgery are not covered, routine foot care are not covered, nursing home stay over 100 days are not covered, and home health care are not covered )eg help to take a bath, etc.
So all these expenses will be out of pocket and as we are living longer means that we need sufficient funds to keep us living fairly comfortable in our senior age
It is said the average life expectancy of people who live past age 65 has steadily increased.
This may be good news but it can cause a real problem. As life expectancy increases, the health problems also increase, and the risk of running out of retirement money increases.
It is said the life expectancy for those couples who reach age 65, 50% will have one partner live past 92, and 25% will have one partner live past 96.
That means one partner has a 1 in 4 chance of having to make it through 31 years of retirement.
Are you prepared for that, I know I wasn’t so I started my own online marketing business.
I think if you are approaching your retirement age, in 5-10 years I believe this would be the perfect time to look into starting your own business. (you can start for free here)
While online marketing is not difficult, it does take time to grow and be established, in this way you will be able to earn a decent living from your business.
I know the thoughts you are having, I have been there so I know, but please put negative thoughts away, the I cants and too old, and never did this, don’t know how to.
There is a platform that you can become a member of at no cost (FREE) this platform is Wealthy Affiliate.
As a free member at Wealthy Affiliate, you will get phase 1 of the best affiliate marketing course Online Entrepreneur Course which is 10 lessons, the entire course is 5 phases, and each phase consists of 10 lessons.
Here is a look at the 10 free lessons
But at the end of the free course, you will be ready for business, your website will be up running live on google waiting for the world to find it.
With the free membership, you will have 12 themes to choose from, so you do not have to worry about web design, of course, should you upgrade to premium there will be thousands of themes to choose from.
And unlike other affiliate marketing training platforms the free membership at Wealthy Affiliate never expires.
And the great thing about Wealthy Affiliate there is no upsell this means should you buy a premium membership you are not required to buy anything else apart from your domain name which costs about $13.00 everything is provided for your success.
I like to leave a list of the information and tools that are provided with each membership.
You may be wondering why can’t you remain a free member and be successful
I have heard of others trying it, but I am not sure what is their success rate, but I do know that there is a big advantage in going premium.
As you see it is very reasonably priced for all the information and tools provided.
Wealthy Affiliate had been around for 14.5 years and has a membership of over 1.4 million and these members are from every nation in 193 countries and the awesome thing about the wealthy affiliate community is we are a community that helps each other.
So should you decide to give Wealthy Affiliate a try for free you can do so by clicking on any of the links in this post and I will be in touch,
The Wealthy Affiliate platform is one that is built for every affiliate marketer, newbies, have some knowledge or very knowledgeable about affiliate marketing.
On this platform, you are taught the ins and outs of affiliate marketing, here is a link to someone who has been a member of Wealthy Affiliate for more than 8 years, and there are a lot more like him.
Have a look at one of the free membership training videos
If you are looking at retirement with some doubt and wondering will your retirement savings last you through your remaining years, why not give this a try, and even if you are nowhere near retirement but you need that extra cash this is for you.
There are people here earning more than $7000 and of course, there are some earning lest but the potential to earn is always there. Here is a picture of our super affiliate marketers those earning $7000 and more
Now I am not saying you will be making a lot of money in a very short time, no this business takes time, you will have to gain your audience’s trust, and building trust takes time.
You will need to be dedicated, consistent, and put in the time, the time to learn and build your business, but as a family, we will be there with you assisting you in any way we can along the way.
So here are my final thoughts, you would like to be financially secured through your retirement, allowing you to live comfortably without the thought of where will you find the money to do the things you want to do. So Take Action!
Start acquiring the knowledge, strategy, and confidence it takes to move forward. And you can start for free.
There is no contract, no financial obligations to meet, should you decide that affiliate marketing is not for you there will be no loss to you, so why not give it a try,
I will be there to be your mentor should you need me just click on any of the links and I will be in touch.
You will find Wealthy Affiliate is a company that cares about your success not only in your business but in you as a person, and the platform is always updated so the platform is currently in all the latest trends and programs, which means you will not be taught old stuff.
Hoping to see you at Wealthy Affiliate.
Thank you for stopping by, really appreciate it, please remember to share and please leave your questions and comment in the space provided at the end of this post and I will get back to you ASAP
NOTE: This post includes affiliate links, which, if clicked on and a product purchased, I get a small commission (with no increase in cost to you).