Most of us are working day in and day out in hopes that when we retire, we will have some money there to support our livelihood. Many of us are happy with the false sense of security depending in retirement has on us. Sorry to burst your bubble, but you can't depend on your retirement - and here is why.
According to Sentier Research the average cost of living in the US in 2018 was $60,060 while the average annual salary was $62,175. That leaves a little more than $2000 a year to just "save". For those of us who live in bustling cities or developing suburbs of established states, that $2000 is dwindled down to the negatives. Someone in San Jose needs at least to earn $89,734 annually, meanwhile for a family of four, the expenses can easily add up to 100K. For someone in Houston they need to earn at least $60,795 annually leaving less than 1K leftover - and we haven't even gotten to retirement yet.
The average Social Security benefit is $1,461 per month as of January 2019. The maximum possible Social Security benefit for someone who retires at full retirement age is $2,861. A worker would need to earn a maximum of $132,900 over a 35-year career to get a $2,862 SS payment. The average American retiree can’t rely on Social Security to sustain a good living standard. Especially not to people who have a lifestyle to attain or maintain.
For this reason you must think and act differently if you want to both secure your present and future financial success.
Companies nowadays don’t care about their employees personal finances or goals. They aren't there for you when you have financial difficulties. They have plenty of other things to be concerned about. Not even your job with them is as secure as you think. Everyone is replaceable nowadays - even if you have a degree.
At the end of the day you are an employee dependent on a company, that doesn't care about you as an individual, to give you a sufficient retirement.
Here are some solutions...
Establish your own business. Become your own boss.
Pros- The sky's the limit, you can invest as much time, efforts and money and dictate your income, your lifestyle and freedom to do whatever you like.
Cons- It's moderately risky and it may take a few years before your business will be profitable. If you don't do it right, you risk not only the business but your entire investment.
Save money on a monthly basis and Invest It.
Pros- Though there’s no guarantee that the stocks you buy will go up in value and provide profit. Investing in Real Estate is the best way to go. Even in a crashing market, people will always need a home and because of this, you can have some money coming in through the backdoor all the time.
Cons- Stocks are a very risky game and volatile business - one that is very tough to predict. Most investors invest countless hours a day sitting in front of the screen just to make sure they could buy and sell shares in time to avoid loss and increase profit and still there’s no guarantee that you make anything. When it comes to Real Estate Investing on your own, there are tons of mistakes you can make that can make investing in Real Estate not even worth it. However, with an expert like myself, clients don't have to worry about anything but saving money to invest. We take care of it all, making out clients Triple Winners. For more about how to become a Triple Winner with New Dawn Investments click here >>
Many people over complicate these solutions and dismiss them when it comes to their retirement. No one knows your needs like you do. For me and my clients, Real Estate was the best way to go. It allows you to make money while saving money! You don't need a second job, you don't need to go through the stress of having your own business just to have a decent retirement. Have a great, dependable, and secure retirement by investing Real Estate. You'd be able to do so much more for yourself, for your family, and for your future!
If you have any questions, please feel free to contact me!