Billy Florence: Ready For Retirement?
Are you ready for retirement? Whether you are 35 or 65, you should be prepared. Have a plan. Start now. Don't wait.
Too many Americans wait too long to think about retirement. Obviously, it is important to save and invest for retirement years no matter what you do for a living. But we also encourage people to start a business of their own while they are working. Building a successful business and creating some long term income may be the only option for many people to be able to retire in style.
I believe everyone should have a plan and focus on getting rid of debt, focus on saving more for retirement and also build a business of their own.
Look what this CNNMoney.com article said about retirement:
Overall, only about 60 percent of workers over 40 who are eligible to participate in their 401(k)s do, and the number of workers covered by a defined-benefit pension has steadily declined. Meanwhile, young workers have the lowest 401(k) participation rates of all workers under 65.
Of most immediate concern is the status of Baby Boomers, who are next in line to retire.
According to research from Fidelity Investments, Baby Boomers only have enough in savings and other income sources to replace 59 percent of their pre-retirement income. Of those with 401(k) accounts, the average account balance is just $80,000, and many typically save just $2,750 a year toward retirement.
For workers under 50, the chances of having a pension are declining. Since 1980, the percentage of private sector workers covered by defined-benefit pensions has fallen from about 35 percent to under 20 percent.
And tens of thousands of workers have learned in the past two years that their companies are freezing their pension plans, meaning the workers will no longer accrue benefits and will need to save more to make up for lost accruals.
Read the complete article at CNNMoney.com:
http://money.cnn.com/2006/03/01/retirement/summit/index.htm
About Billy Florence and Peggy Florence
Billy and Peggy Florence are members of IBOAI. The official trade association of Quixtar IBO’s serves and protects the business interests of independent business owners. Leadership team includes Greg Duncan, Don Wilson, Billy Florence, and Jody Victor.
Billy Florence leads Team Dream Chasers International (DC International) Organization. Billy Florence founded Equad News. It provides news, opinion, and motivational editorials.
Key words: Billy Florence, Jody Victor, Billy Florence leadership, Rich Florence, Peggy Florence
© 2006 Florence News reprint permission to Billy Florence – Team blog.
Too many Americans wait too long to think about retirement. Obviously, it is important to save and invest for retirement years no matter what you do for a living. But we also encourage people to start a business of their own while they are working. Building a successful business and creating some long term income may be the only option for many people to be able to retire in style.
I believe everyone should have a plan and focus on getting rid of debt, focus on saving more for retirement and also build a business of their own.
Look what this CNNMoney.com article said about retirement:
Overall, only about 60 percent of workers over 40 who are eligible to participate in their 401(k)s do, and the number of workers covered by a defined-benefit pension has steadily declined. Meanwhile, young workers have the lowest 401(k) participation rates of all workers under 65.
Of most immediate concern is the status of Baby Boomers, who are next in line to retire.
According to research from Fidelity Investments, Baby Boomers only have enough in savings and other income sources to replace 59 percent of their pre-retirement income. Of those with 401(k) accounts, the average account balance is just $80,000, and many typically save just $2,750 a year toward retirement.
For workers under 50, the chances of having a pension are declining. Since 1980, the percentage of private sector workers covered by defined-benefit pensions has fallen from about 35 percent to under 20 percent.
And tens of thousands of workers have learned in the past two years that their companies are freezing their pension plans, meaning the workers will no longer accrue benefits and will need to save more to make up for lost accruals.
Read the complete article at CNNMoney.com:
http://money.cnn.com/2006/03/01/retirement/summit/index.htm
About Billy Florence and Peggy Florence
Billy and Peggy Florence are members of IBOAI. The official trade association of Quixtar IBO’s serves and protects the business interests of independent business owners. Leadership team includes Greg Duncan, Don Wilson, Billy Florence, and Jody Victor.
Billy Florence leads Team Dream Chasers International (DC International) Organization. Billy Florence founded Equad News. It provides news, opinion, and motivational editorials.
Key words: Billy Florence, Jody Victor, Billy Florence leadership, Rich Florence, Peggy Florence
© 2006 Florence News reprint permission to Billy Florence – Team blog.
posted by Billy Florence at
5:41 PM
