How Much Do I Need to Save For Retirement

“Workers Saving Too Little To Retire”

The above title is from an article that appeared in the Wall Street Journal March 19, 2013. As a financial consultant, I am drawn to such articles. I know from 20 years of experience that one of the main questions for families when it comes to thinking about retirement is, “How much do I need to save for retirement”?

The article states according to the Employee Benefits Research Institute, 57% of US workers surveyed reported less than 25,000 in total household savings and investments, excluding their homes. This is really a shocking statistic. Some of you reading this may ask how could this be true. But for far too many of you, this is reality. I could elaborate much more on this, but I want you to view the Wall Street Journal video to learn more. Then I will summarize some points.

When asked why this was happening, the reporter, Kelly Greene, in the video said that people are just trying to get ahead, and the day to day expenses just do them in. Wow, can that be? Have people just given up on living their dreams? Have they given up on having a better quality of life and retiring comfortably some day? Are families at such a loss for how to manage their everyday expenses the those day to day expenses “just do them in”?

What about you….what about your family? Are you in the same boat? Do you know how to change this seemingly endless cycle? That’s what this whole website is about. Folks, this is what I’m all about. But let’s look at this further.

The question still remains, “How Much Do I Need to Save For Retirement?” In the video they discuss people in their 40s and 50s with this little amount, and how they have to now save 30% of their pay for retirement. But how do you do that and still manage to live day to day? In the video they also talk about the challenges for small businesses. How are small business people going to be able to save adequately for retirement? For those of you with pensions….don’t think you’re safe either, as discussed in the video.

Ultimately most people will be left with only one option…continue to work much later in life than they ever thought they would. I was watching Fox News just this morning and the discussion was how the average retirement age has risen several years since 2008 as most 401ks, IRAs, and other investment have taken huge hits. The stock market recovery hasn’t changed the fact that retirement will have to be postpone several years. Remember, many have lost jobs or have had to take much lower paying jobs. Many have had to live off those 401ks, taking tax penalties to do it.

So What’s the Answer? 

Those everyday expenses that families are having trouble coping with include lots of debt. YOU MUST ERADICATE DEBT IN YOUR LIFE! And you must do it as fast as you can. Don’t wait for things to improve in the economy. It’s not going to get much better going forward in our nation unless some drastic changes happen in Washington.

how much do I need to save for retirementNow…if you try to get out of debt the conventional way, it’s not going to work well for the long term. You see, there are two challenges: 1) Get out of debt…2) Save for retirement. The so called gurus out there on TV, and those who write books on getting out of debt don’t know how to do both at the same time. They want you to throw everything you have at getting out of debt. Give up everything to get out of debt. Even if you do, it will still take you several years. Meanwhile there’s no way you can adequately save for retirement (in their model) AND get out of debt in a reasonable period of time. In their model, after you’re out of debt, you must stay completely out of debt and take all the money you used to pay towards debt and put it all in retirement, IN THE STOCK MARKET. Isn’t that how your 401ks and IRAs got in trouble in the first place. And how are you suppose to pay for everything cash when all your money is going into the stock market. It just doesn’t work for most people.

I appreciate these gurus putting such a huge emphasis on being debt free. I agree with them on this point. But I disagree on how to get there. I believe based on fact that you can absolutely get out of debt AND create wealth, guaranteed, for the future. And this future includes being able to finance your life going forward while creating a pool of money in your bank that is available NOW for living today, and later in retirement for living comfortably with TAX FREE income….FOR LIFE.

The question, How Much Do I Need to Save For Retirement?, becomes a much easier question to answer when you use privatized banking to create your own family bank. When you create your bank you will see 10, 20, 30 years into the future how much money you will have for retirement (guaranteed) and how much your bank will pay you tax free. And if you use your bank to finance your life (cars, boats, vacations, college for the kids, businesses, real estate, etc) you actually increase your wealth and your future tax free income. If you want to invest in the stock market, do that after you’re out of debt with money you can afford to lose. But your foundation of wealth for the future should be your own family bank.

Your Next Step

Get started NOW. Folks, the money you need to get out of debt is already in your budget. Did you hear that? You can pay off all your debt, including your mortgage, in 10 years or less, with the money you already make! And most of you can start your family bank right away to enhance your debt elimination and start creating wealth at the same time. Here’s what you do: click on tabs above for “Play My Video”, “Live Debt Free”, and “What is Private Banking”. View the videos and read the content. Then call me! I will meet with you and your spouse to answer your questions. If you want to see how this will work for you, I’ll give you a form to complete with information I will need to create your debt elimination plan and set up your family bank. Once you see the results, then you decide if we move forward. That’s all there is to it.

Let’s take the mystery out of How Much Do I Need to Save For Retirement! Take action now! You absolutely will succeed!

Victor Cuevas

Skype: victorcue

how much do I need to save for retirement

Work With Me Personally –Click here

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