YOUR mOST ImPORTANT FINANcIAl dEcISION

Chapter 10

YoMost IRU MPoRtAnt

FInAnCIAl DeCIsIon

By Da ViD BoiKe

with DJ BoiKe

By now, we all know that a “Perfect Storm” has arrived for many Amer-
icans. This convergence of several key factors is threatening the finan-
cial security of many folks, but especially citizens age 55 and over. For
this group of people who are about to retire or have already retired, the
threat is very real. According to well-documented sources, most pension
funds are underfunded and future benefits may be in jeopardy. The cost
of the Social Security, Medicaid, and Medicare programs are explod-
ing as more folks move into retirement and fewer tax payers remain in
the workforce. Inflation continues to raise the costs of key goods and
services such as health care, alternative housing, utilities, and food. In
the meantime, most investors have earned very poor returns on their
retirement accounts over the past ten years. On top of all this, taxes are
likely to increase again and guess who will be paying the bulk of these
tax increases. You’re correct. People with money. People who earn over
$58,000 per year. People whom our government considers “rich.” Hard
working people who have saved and invested for their retirement years.
If that describes you, then get ready. You have a great big bulls eye on
your back.