Do You Have Enough to Retire?
I Still Can’t Believe This is Legal
Herb Dorner put in 28 years as an in-house electrician for a small food processing company in Upstate New York.
When the recession hit 10 years ago, he was let go, but because he had been contributing to the company’s retirement plan for 25 of those years, he wasn’t that worried. He was set to retire in 2010, anyway. And between his retirement and Social Security, he would be able to enjoy his golden years without having to worry too much about money.
At least that’s what he thought.
You see, last year, during an audit of the company’s retirement plan, it turned out the entire thing had been mismanaged and nearly everything Herb was relying on for retirement was gone. Upon closer look at the audit, the whole think looked like a giant Ponzi scheme.
While Herb does still get a few bucks, which was only possible after a lawsuit, it’s nowhere near what he needs to enjoy a comfortable retirement. Hell, it’s not even enough to allow him to retire at all.
Today, at 71, Herb works the night shift at a convenience store. He says he doesn’t sleep that well anyway, so the hours are perfect for him. What’s not perfect, however, is the fact that Herb is unlikely to ever be in a position to have a proper retirement.
And he’s not alone.
Millions of baby boomers all across the country never had enough put away for retirement. And many of these folks are in this situation because they were screwed over by the folks who promised them the world when they signed up for their retirement plans.
Meanwhile, as these baby boomers work odd jobs and sell off their possessions in order to live, younger generations are facing a similar future, with 65% of Americans now having little to nothing saved for retirement.
Then there are the folks who do have enough to retire on but not enough to actually enjoy retirement.
I’m talking about the folks who live their lives in a way that’s eerily similar to the way a lot of folks lived during the Great Depression, when people sold apples on the street corner and mixed ketchup and hot water to make soup.
I’m not being hyperbolic, either.
People are struggling, and despite the strength of the economy, this country still has a lot of folks who can barely make rent, much less save for retirement. But it doesn’t have to be like that.
Your Retirement Isn’t Enough
If there’s one thing I’ve learned over the years about creating and protecting wealth, it’s this...
If you rely on sketchy pension plans and Social Security to take care of you after retirement, you’re going to be in a world of hurt.
Understand that I don’t say these words to be brash or unfeeling. This is merely an observation of truth.
The bottom line is that if you want to be secure in your finances when it comes to retirement, you have to make some bold moves.
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What I mean by this is that you cannot rely only on retirement plans.
Yes, there are plenty out there that serve as excellent vehicles for wealth creation. But just like anything, you still have to stay diversified. And when it comes to preparing for retirement, you need to make sure that while you’re still working, and even after you’re no longer working, you always have a steady flow of cash coming in.
One of my favorite ways to do this is through the “Fed-Lord Fund,” which, ironically enough, allows you to take advantage of a little-known loophole hidden in the fabric of America’s Social Security system.
$20.4 Million up for Grabs
In the aftermath of the financial crisis, while former President Barack Obama was still in office, the Fed-Lord program was created.
To be honest, I still don’t understand how this even came to be. All I know is that under this program, the U.S. government is obligated to pay $20.4 million into this thing every single month. And if you exploit this loophole, which is actually incredibly easy, you can get a piece of this action, too.
It’s pretty much a no-brainer, but you have to see this thing for yourself.
What I like so much about this opportunity is that it doesn’t require you to fill out a bunch of forms and hand over your hard-earned cash to some random retirement account manager whose only job is really to pull in as much cash as he possibly can.
This allows you to bypass all that nonsense and go straight for the cash.
To a new way of life and a new generation of wealth...
@JeffSiegel on Twitter
Jeff is the founder and managing editor of Green Chip Stocks, a private investment community that capitalizes on opportunities in alternative energy, organic food markets, legal cannabis, and socially responsible investing. He has been a featured guest on Fox, CNBC, and Bloomberg Asia, and is the author of the best-selling book, Investing in Renewable Energy: Making Money on Green Chip Stocks. For more on Jeff, go to his editor's page.
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