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Retirement Planning

Concerning retirement planning, take this short quiz—you cannot afford to get the answer wrong:

 

Who will fund your retirement? (*see answer key below)

a) the government
b) your company
c) you will
d) do not know

 

*Answers

a) Doubtful—the Social Security Trust Fund is in danger. In 1945, there were 41 people working and paying into the system for every one person drawing income. Today, there are only 3 people working for every person drawing Social Security Retirement.

b) Doubtful—Traditional pensions are disappearing across America. Bankrupt companies are passing their under-funded plans to the Pension Benefit Guarantee Corporation (PBGC) at an alarming rate. The PBGC itself has a $23 billion deficit. Worse than that, current potential liabilities represent $450 billion of under-funded company pension plans.

c) Your personal savings and investments are extremely important. Do not procrastinate. Do not guess. Have a plan for your retirement income. Learn 6 Tips for 401(k)s and How To Make the Most of Your IRA.

d) See answer c.

By planning for retirement, you will protect your future. Financial planning for retirement creates a long-term plan to build and protect your wealth.

For a retirement planning*, click here or
call Fayette Financial Planning LLC at 678-364-9330.

*The initial consultation is at no cost.

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