Let's face it,jobs are on the decline in corporate America. The times are changing. If you do not change with the times, simple you begin to fall behind. Go to school and get a job, no longer holds true. Many baby boomers are finding out the hard way. With jobs being shipped overseas, companies downsizing to cut back on costs and increase profits, have taken away the security of having a 9 to 5. And if you are planning to depend on the government well good luck. Social Security doesn't have the money to fund our retirees in the future. So what can you do in these changing times?
Simple it is time to start taking control of your own future. Yes it may require courage and the ability to withstand criticism. But it beats being 60 years old and getting fired from your job. You don't believe me, go to Wal Mart and talk to the door greeters.
What worked for your parents does not work today. Back in the day sure you could work for a company for 40 years and retire. The company would pay for your retirement and you could enjoy life on the golf course. That is not the case today. Companies are about making money, period. Paying for employees retirement proved to be very costly for companies. So they had their lobbyists in Washington change the law.So today we have 401k's and they are worthless! 401k's take all of the responsibility of retirement off of the companies and lay it on your shoulders. Now most people don't even contribute to their 401k's, so they will have nothing to rely on but Social Security. Now before you start patting yourself on the back, people contributing to their 401k's are the bigger fools.
Ok when I invest in something, I have to have full control of my investment, period. 401k's offer no security, and no control. I'd hate to break it to you but when you are investing with your 401k you are investing in the stock market. The stock market is one of the least secure investments out there. I know people say well my 401k is worth $500,000. Well that's all great but what is your 401k going to be worth when you retire, that is what counts. And you have no way of knowing what the stock market will look like when you retire.
If the stock market goes up awesome but what about if it doesn't. You are gambling with your future by depending on your 401k. And of course your financial advisor will tell you on average the stock market goes up, it's his job to tell you that. Remember he gets paid on commissions,you don't buy no money for him, most financial advisors are just salespeople.
So ok what do you need to do? You need to become financially educated. Before you invest in anything you need a financial plan. You need real professionals around you. When looking for a financial advisor find someone who actually makes a living by making money off of their investments. Do not go with a financial advisor who makes money solely from commissions. Gaining financial education can be the difference between you enjoying your life on the golf course or having to work at Wal Mart in your 70's.
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