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FEATURE
THE NO-BRAINER WAY TO SAVE FOR YOUR KIDS' COLLEGE EDUCATION AND YOUR RETIREMENT |
| Nicole LyonsPublished: November, 2012 |
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We have all seen the brochures at the bank. You know the one showing a grandparent with their grandchild with the headline “Talk to us today about your retirement planning”. The scary part is that the picture represents the norm for most Americans – they start planning when is too late. And that is why author and accountant Mario Healy wrote the book “The Guaranteed Nest Egg.” The free book is a guide to help families understand the necessity of early planning.
“How sad that most people think that retirement planning is something that they should do when they’re older - if they even consider the issue at all,” said Healy.
The 2012 Retirement Confidence Survey released by the Employee Benefit Research Institute recorded that 66 percent of the nation is saving for retirement. Those 55 and older are saving the most, then ages 35 to 44, followed by ages 45 to 54 and in last are those 25 to 34 year olds. Healy hopes that his book can change this trend.
In the early nineties, Healy shared that he did in-home presentations for a Senior HMO plan. He visited many seniors living in shocking poverty. The majority were living in such conditions because they had put all their eggs into the Social Security basket.
And the future of Social Security is a serious one, as discussed in the 2012 presidential debates. In fact this year’s annual report by the Trustees of Social Security, predicts that funds will be depleted by 2033. After that date, payroll taxes will be enough to cover only 75 percent of promised retirement benefits. How much guaranteed money will you have at retirement? This is the question Healy wants you to ask yourself while you are still young.
Healy’s book, “The Guaranteed Nest Egg” explains how to setup a plan that will ensure your personal financial security. The answer lays in a 'hybrid' policy that insurance companies offer, which uses a minimum guaranteed rate of return and a high potential return without stock market risk that provides a guaranteed tax-free income.
“Some people might be able to set up a guaranteed nest egg for less than what they’re spending at Starbucks each month,” said Healy. “If done early enough, it is very affordable; in fact the IRS puts a limit on how much money you can put into it because you get tax-free yearly income which can continue for life!
To request a free copy of “The Guaranteed Nest Egg”, please click here.*
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Readers Feedback:
Without risk you need to buy CD's certificates of dspoeit and money market accounts that are both FDIC insured that way there is no or very low risk. also US savings bonds and T- bills are no risk. Mutual funds, and other items are more risky. you can make the group of accounts (CD's, Tbills) your IRA and it is tax sheltered but then if you make it an IRA you can not withdrawal until you are at least 59.5 years old. add to it at least 10% of your income. also look into a 401K at work because you may get matching funds then put that 401K into a low risk or no risk investment that is offered under the 401k plan. Contibrute at least enough to get the full match or if no match put at least 10% into this and you will be oK. Actually better than OK if you open both the iRA and 401K and save 20% of your income between the two.
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