Retirement Essentials for Boomers

No question about it, even the “me generation” baby boomers have to face the facts.
They are becoming senior citizens!
That transition is bringing another major reality shift. Increasing numbers of boomers are moving from the accumulation phase of their savings to what’s known as the distribution phase. They have to spend what they have saved, earned and possibly inherited to fund their retirement.
It’s a daunting challenge, especially in the midst of recent market turmoil when portfolio values are under pressure.
There are an estimated 76 million baby boomers in the U.S., born between 1946 and 1964 and now ranging between 69 and 51 years of age. They represent about 25% of the U.S. population and about 68% of them are still in the workforce. And according to a Gallup poll many of them are reluctant to retire.
Nearly half of boomers still working say they don’t expect to retire until they are 66 or older. That compares to the average retirement age of 61 among current retirees.
Plus, one in ten boomers predicts they will never retire. Concerns about money play a significant role in the boomer’s plans to postpone retirement.
WEALTHTRACK #1211 Broadcast on September 4, 2015
More Info: wealthtrack.com/franklin-reti...

[@arnoldlombardi]

Pattern recognition, stock picking, when to buy or sell, what to do when the market is crashing? A few important things to answer before every newbie should ask before getting placing a trade without guide. I was lucky to have hired the services of a pro account manager when I did I've been receiving so much knowledge most newbies should know from it. Now I'm more into six figure investments this year. Thank you Lance

[@rolandyizel]

I do my best in trading the stock market as fx is way to complicated for me. Though I can't still call myself a full fledged trader on my own. My portfolio's a mess and I keep burning profit. Pls do you have a working strategy? How have you been profiting ?

[@arnoldlombardi]

@@rolandyizel My friends are all in awe like you on how I manage my stock portfolio and accounts, they think tirelessly at it. Truth is I leave the numbers and all my trade affairs to a Licensed pro analyst. I’m 55 and currently have a $1.1million portfolio and my goal is to keep making money I have Mr. Lance Bernthal, a regulated trader handle my trades and investments with his guidance and forecasting I invested in Options, Bonds and High growth stocks and so far I've gotten a 20% increase but hopefully I’ll get to $2million sooner. Diversification of trades is also very important to me and that's why I have Lance trade for me with $7k in dividends yielding me $17k - $20k monthly

[@rayneraltunok]

Despite the high profit high profit margin. I'm always going to prefer throwing in my money into REITS over stocks alone.

[@berchtoldsveryown]

Lance Bernthal is an absolute legend. I've worked with him in the past, he's always on time with payouts, and he's very skilled and attentive to details. He was able to rack up $250,000 in my first couple of months investing through him and his team, i 100% recommend

[@rolandyizel]

@@arnoldlombardi Interesting, and can you help out with his details. i'll like to leave placing trades to an expert as well.

[@Marysiewert]

I always wondered why grandparents adopt and now I know the big WHY!

[@KambizTazarv]

Wow... What an intelligent & articulate lady... As a CPA, it is always great to pick up investment pointers & lessons... Thank You Ms. Mack for your great series...

[@eileensummerville3760]

Consuelo, Thank you, thank you, thank you, thank you. I am so weary of being told by the pundits of finance that I need to have bonds etc. in my portfolio. I taught myself to live on the income from my teachers pension and social security. My portfolio is for my children. I agree with you that you can be more risky when you are investing for your children's future. Please have Mary Beth on again and again. There are so many of us out here who really need this great advice and wisdom for retirement planning. I appreciate your professional approach to building an investment portfolio. I have recommended you to many friends as a person to listen to who knew what she was talking about. I cannot thank you enough for this video and for gathering the greatest minds in finance about you and sharing the information. Take Care, Eileen Summerville

[@jimmysapien9961]

I agree totally thank you so much Consuela I am a reader for life now on your site 👍🏻

[@ExtraordinaryLiving]

From all the comments here and elsewhere (other SS bennies vids), it seems the wisest strategy to retirement money is the self-directed way ... save and invest on our own, this way, we have total control of our own money!

[@matt75hooper]

My "Portfolio" is one sentence. 'Working til I drop dead.' I love my work. I'm surrounded by retirees. I dont like what I see.

[@TippyPuddles]

I believe retiring at 70 is now !38%. Check the amounts she says, law was changed in 2019.

[@flguy7271]

File and suspend strategy is done :(

[@ExtraordinaryLiving]

FYI for self ... 16:53 - Maximizing Medicare benefits while minimizing the cost of Medicare.

[@davidwright4834]

Due to recent changes in the law, you can no longer suspend Social Security and get a lump sum.

[@ExtraordinaryLiving]

Awwww, BIG bummer!!!!

[@jimmysapien9961]

Is this true

[@TippyPuddles]

Spousal benefit is going away in 2019, check for age limit but I think you have to be 66 this year.

[@puzzlepeaces8940]

Whaaat! There's no way I'll be able to afford to even rent a room without that! Wtf? They're not taking into account how much things cost. Rent is ridiculous $1700.00 a month no utilities included and that's in a bad area, TINY apt.

[@jimmysapien9961]

puzzle peaces I agree with you the government don’t care they’ve got plenty of money, believe in the Lord repent, we won’t have to worry about all of this when we’re in heaven !!!

[@expo7112]

A couple of old school money honeys!

[@brendakrause5639]

It is very difficult to get a doctor to see you under straight medicare. After three attempts, I got an advantage plan supplement that ripened up the floodgates to actual care.

[@knightingalesaid]

You will be living longer, but at an incredible cost. Our medical technology is so good and so expensive, that no one can afford it in some cases. You may be billed 100,000 dollars on one medical condition in one year. The hospital can deplete all your savings in 1 year. Personally, I dont want to die owing anyone for anything. I have seen people die, that owed over a million dollars to the hospital. They never paid there that bill.

[@acajudi100]

Move to a cheaper and safer country, as long as SS and IMRF keep sending me my pension payments monthly.

[@puzzlepeaces8940]

They dont. If you move out of the country the soc se c check stops

[@yewkiamakuahui2296]

@PearlPerlita Venegas I have read in the AARP magazine that many people have recommended Thailand as a good retirement country. Others recommend South American countries.

[@yewkiamakuahui2296]

@@puzzlepeaces8940 Really? I don't believe so. If you have your checks direct deposited into your bank account and travel abroad, the checks wouldn't stop, would they?

[@jimmysapien9961]

寒冬已至 no way I would move out of ??? United States !!!!! jurisdictions remember don’t put yourself in harms way, people notice and you can be kidnapped and held for ransom, this happened to someone’s mother years ago believe me it sounds wonderful but it’s not.

[@jimmysapien9961]

寒冬已至 I Agree

[@puzzlepeaces8940]

Don't trust the letter they send saying how much you're going to get. My ex followed all the rules & is getting $300.00 less than what they said he would get. He almost lost his house because he had quit his job of 20 years relying on what they said he was getting. Now he has zero money for emergencies too.

[@jimmysapien9961]

Exactly

[@snakechrmr6398]

Given the inaccuracy of your above post "They dont. If you move out of the country the soc se c check stops" everything you post is questionable.

[@barbaraleighton7324]

the woman Host has an ADAMS APPLE!!! Strange...

[@smartnfinal]

i don't see any.... maybe get some glasses...it may help

[@skunk12]

Okay, boomer.