We live in a dynamic, ever changing world. Landscapes and terrain that once seemed firm and stable are now shifting and unsteady. Some of the very institutions we have looked to for strength and stability have crumbled in recent years. Leaders whom we have counted on to guide and direct us have caused us to pause and question their motives and resolve to do what’s right. Given such unprecedented times, where does one turn for sound advice and direction.
Considering our country’s financial future, have you ever simply considered the math?
Our current system is not economically sustainable. To maintain level benefits, Social Security and Medicare in the near future will cease to exist at current projections. The plain demographics that support and rely on these entitlements are convergent in their very nature. Do your own research! One does not have to dig very far to understand we are about to experience a serious train wreck.
And what about the need to resolve our current budget deficit, the country’s infrastructure needs, housing crisis, public pensions, our healthcare costs and our dependence on foreign oil. Government debt is growing at an alarming rate. Unfunded federal liabilities are skyrocketing! We are piling up ledgers of liabilities for our children.
What are seniors to do?
None of us can neglect or ignore the charge for personal responsibility. We must move toward self-reliance and get our houses in order. Make no mistake, taxes are going up and entitlement benefits will be reduced. The negative impact on American pocketbooks and lifestyles will be staggering. Market volatility will increase and inflation is most certainly in our future. Local governments will continue to struggle with an ever-burgeoning dependence on debt and entitlement thinking. States can’t print money, but the federal government can and this action will continue to erode the value of the dollar.
I do not intend to preach gloom and doom, but to offer a warning voice. With unsettling winds whirling around us, we must navigate our way to a destination of safety and stability. I am most concerned with how seniors will navigate these turbulent economic waters and protect their estates. This is why I conduct Estate Preservation Seminars across the region to educate pre-retirees and seniors on the importance of looking at their financial lives in a comprehensive way. With this view, it is essential that seniors develop effective strategies necessary to combat the array of risks they face.
To help seniors access these risks, I founded the Estate Preservation Institute. As the President of this organization our focus is to “Assist pre-retirees and seniors to implement effective financial strategies to combat the risks associated with retirement.” Our mission is to “Help others experience financial peace so they focus their lives on what matters most.”
To support this focus and vision I have developed a unique 10-point Estate Preservation Wellness Check-Up for seniors. This wellness check-up is an integral part of my monthly educational seminars. I continue to receive great feedback from seminar attendees and clients on this proactive approach to estate and retirement planning.
I am grateful to be able to reach you through this publication. In each issue I will share important principles and concepts I teach my clients. Please recognize that your situation is unique and demands personalized attention. Remember, one size does not fit all, so it is important to seek specific advice for your situation.
I hope to see you at a future event sponsored by the Estate Preservation Institute. Financial peace in our troubled times is possible, but you must take action!