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Sobering Facts About Your Retirement Savings

Will You Have Enough in Your retirement planning ?

According to the 2005 Retirement Confidence Survey and Social Security Administration, "Fast Facts and Figures about Social Security" Consider these sobering facts:

Almost 58 percent of American workers have not calculated how much money they will need to save for their retirement plan.

Most workers have not saved enough for their retirement planning.

Almost half have saved less than $50,000 for their retirement planning needs.Social Security and pensions only account for 58% of your income needed in your retirement planning.

What does this mean For Your Retirement Planning??

My wife and I attended a pre-retirement workshop in Spring of 2009.

And what was alarming to me, is that the financial planning advisor was stating based upon the average persons current status of living today-would need between 3-6 million to live comfortably when you are ready to retire in 20 years. For me, that's about 15 years.There is no way I have that kind of dough saved up, not even close.

But as one of my smart goals , I'm working on catching up and doing the things I can do and control, such as contributing the maximum as a part of my long-term investment strategy, for my 401 K, my wife's 401 K and IRA account.

How about you? In the future, you may be spending more time in retirement than you initially planned, your income sources may be lower, and your money may have to last longer than you originally expected. With inflation and taxes a given, it's going to become increasingly important in your decision making ahead, so that you won't outlive your retirement plan.

Action Steps You Need to Do NOW For Maximizing Your Retirement Dollars...

1 You need to make a list of all your financial assets including (Life insurance policies, IRAs, 401K plans, employer pension funds, savings, annuities, CDs, stocks, bonds, mutual funds, real estate holdings, etc.

2)You need to schedule an appointment ASAP with a credible licensed retirement planning specialist or financial advisor to draw up a plan of action for your retirement planning with the assets you’ve identified. If you fail to plan-you plan to fail.

3) Whatever retirement plan you and your financial advisor agree upon, you need to stick with your retirement savings plan. Delaying any longer in addressing your retirement planning, means less you will have for your retirement planning days when you need it. You need the self discipline , in saving today's money for your tomorrow's future living needs.

Alright...you’ve worked your entire lives, put your kids through college, to provide for the basic of necessities along the way-but have you overlooked your own retirement planning in the process? Maybe you’re not at the retirement point of your life as of yet but you clearly realize you have got do develop a retirement plan now.

For many Americans, the fact is, that many cannot afford to retire even if they wanted to do so given the current economic condition, with continuing plummeting home prices, and a very anemic employment situation at the moment, with no sure sign of a robust recovery any time soon.

With many Americans out of work and layoffs due to the global recession, you’re probably wondering what you can do? What are your retirement goals? Where do you begin? There are many excellent financial planning manuals , and financial advisors , that you consult with to provide you practical, reliable and might I add-factual financial information for your retirement planning needs.

Can You Afford to Retire?

There are many firms and companies out there willing to take your money-just make sure you research first, due your due diligence before agreeing to anything in writing. The important thing is talk with someone now not 2 months or two years from now-but now. Do you realize the longer you put off in doing nothing-the more of the “nothing” you will have left when you finally decide to do something?

If you are considering retiring, have you considered what it will cost for you to retire now? Will you be financially secure to retire in today’s current global economic climate? Unfortunately for many people, retirement is not an option due to the gloomy economic conditions many are still experiencing. Maybe you to are in this boat. More importantly, what will you retire to?

Retirement Security with SBI

Everyone of us wants to retire one day and to have the financial income to continue living the lifestyles we have enjoyed our entire lives while working. If you're considering a "second career" , work at home business idea that you would like to explore, then write down on paper your ideas, your passions, hobbies and and your interests if you have any.

What are you passionate about in life? What do you enjoy doing on your own time? Realize that any planning costs time and money. However if you plan accordingly and stick to your financial retirement plan and goals, you will be in a position to realize your retirement goals with adequate financial resources for all the rest of your golden tomorrows.

But.... If you’ve come to the conclusion that the numbers just don’t add up just yet as you had initially thought to retire, and you’re contemplating having to find a part time job or work at home business idea that you’ve been thinking about-then why not consider Site Build It! SBI is the same company I partner with in my personal goal setting website.

With Site Build It! You need absolutely no programming skills or web-design knowledge, no business and no product to sell. All that is required is your brains, attitude and motivation BAM . SBI has all the tools you need, and they take you by the hand and teach you step by step how to use everything.

SBI helps you to find the perfect niche topic for your site, to build it, to get traffic, and then they even teach you how to make money with it, no matter what your site is about! Take a look at the video tour here.

What Will You Retire To?

If you've done the numbers and you have more than adequate to retire comfortably, then that's great.

But if you've realized you still need to work several years, why not build a SBI website that pays you?

You just need to develop the proper self discipline , develop the self confidence in trusting and believing in your God given abilities, and to have a positive attitude in all that you do.

Barring a quote from Thomas Edison:

"If I find 10,000 ways something won't work, I haven't failed. I am not discouraged, because every wrong attempt discarded is another step forward..."

Remember: ”The only Unfulfilled Goals in Your Life are the Ones you Never Attempt”

personal goal setting