Considering the span of human history, the idea of stopping work and “retiring” is a modern concept. Prior to the mid-20th century the act of retirement and ceasing to work happened to coincide with dying. It wasn’t until 1889 that the idea of old-age insurance came about when Chancellor Otto von Bismark of Germany declared to parliament that those who were over the age of 65 or disabled should receive a state pension. At the time that wasn’t such an impractical idea considering that modern medical concepts such as antibiotics weren’t invented until decades later therefore life expectancy was only about 45 years old at that time.
Naturally that expectancy has improved over the past 100+ years. An American male who retires today at age 65 can expect to live to approximately 84 years old and a woman slightly longer to age 86. We now have to plan for over 20 years of not working and taking into account the solvency issues of Social Security and Medicare can no longer rely on the government to take care of our needs later in life.
It is also no secret that pensions are also increasingly under (or on…) fire as most companies have phased them out in favor of the 401k scam system and an increasing amount of public pension systems are finding themselves grossly underfunded.
So where does that leave the average American? Unfortunately it means that we need to get used to being proactively involved in setting aside time and resources to plan for funding our own retirement – but fortunately there are more options available to fund your retirement than just a pension, 401k/403b, or falling back on Social Security.
Our mission is to offer you plans that protect your finances, ensure a steady stream of income throughout your life, eliminate excess fees, minimize taxes, and ensure that you have a legacy to enjoy and pass on. When the time comes, you should sit back (or get out!) and enjoy your golden years – let us worry about how to make and keep them golden.