Financial Planning and You April 2, 2013Posted by shaferfinancial in Finance.
Tags: Personal Finance, retirement planning
I’m going to make this very short.
If you follow the strategies that are suggested by the main stream financial planning industry you can expect to have the same results as their clients have had over the last 20 years because they haven’t changed much in their advice.
The results are out their for everyone to see:
Median Net Worth in 2010: $77,300
For the 55-64 age group median net worth was $179,400
Half of American families don’t have a retirement account, for the other half the median amount in it is $44,000. For those in the 55-64 age group the median amount in a retirement account is $100,000. For those in the 80-90% income group, a group that averages $114,000 of family income, the median amount is $88,000.
Now, the financial planning industry blames the American public for not being moral enough to follow their advice about retirement savings. The truth is that the advice given is not working for a variety of reasons from technical to psychological. So if something is not working why do you not change your strategies to something that does work?
Ask yourself if you are ready to explore something different that has proven to work?