7 Reasons You May Never Retire

If you ran out of money at age 80 what would you do? Sobering but true, below are only 7 reasons you may never retire. These items should alarm you but it won’t. That’s because unless you study this stuff, and I do, you won’t see the problem or what it means to you.

I’m not a doomsday sayer. I’m just a guy watching this story unfold, and watch it get bigger. I do like the image of politicians, “kicking the can down the road.” But, really, aren’t we all kicking it down the road?

So, listen up, here’s the list of 7.

1) 10,000 Americans reach age 65 every day.
2) Companies offering Pensions has dropped from 112,000 to 23,000
3) 45% of workers cannot access employer-sponsored 401k or pensions.
4) Medicare and Social Security will run out of money by 2028 and 2034.
5) $300 Trillion dollars are owed for unfunded public pensions
6) Americans don’t save, in fact, Americans have a negative savings rate.
7) Politicians have too many competing interests, so they kick the can.

The earlier one starts to save, the easier it is to accumulate sufficient wealth at retirement. The corollary to this is that the longer a country (or an individual) waits to address these issues, the fewer options there will be for solutions, and the options that remain will become more and more difficult to successfully implement (source noted below).

The authors of the article I quote grade our current 401k system as a letter grade of “D+.” I’m not sure what the plus sign means, but I can tell you many individuals are not prepared to retire because so few have pensions (that’s what your Grandpa or Grandma had), and those with a 401k have put too little in it.

Work for a City or other governmental unit?

There is a combined $300 Trillion in unfunded liabilities for employees of these places of work. And, these employees are going to look for their retirement check and receive something like what Detroit retirees received, which was pennies on the dollar.

Your parents and grandparents retired with a pension. They received a check each month for as long as they lived, that, plus social security, made a very comfortable retirement for many people. With the list of 7, you can hopefully see you’re unlikely to retire the way you might be thinking.

You can save now, try closing your Amazon account. Or, find any other way to save. Whether you’re by yourself or at a company or government, the time to do something is now. Make saving and asking questions to protect retirement important to you. After all, I have a friend who says;

“What gets attention, gets done.”

I love these conversations, either to help you as an individual, or your employer. I am happy to help or steer you to better resources.

Building a Strong Retirement Program: One for the AGES, Benefits Quarterly, International Society of Certified Employee Benefit Specialists, Brookfield, Wisconsin; www.iscebs.org.

NEW – AHP, Catholic Business Owners Healthcare Relief

Catholic Business Owners

The NEW AHP regulations created to fit President Trump’s Executive Order make it possible to create a Catholic Buying Trust. This provides owners a way to control what they pay for in healthcare.

This is the biggest news in benefits since ERISA. Small business owners can keep their firmly held beliefs (respect for all Human life), follow their conscience, offer the Dignity of the Human Person in their Healthcare plan, and own the ability to choose how to lower cost. Perfect! Continue reading “NEW – AHP, Catholic Business Owners Healthcare Relief”

Healthcare, Trumpcare Won’t Lower Your Premium

Experts have had 40+ years to solve it

It seems to me, the Americans suspended their worry about Healthcare premium hoping Trump and his experts will fix it. They won’t. The experts, right or left, can’t solve Healthcare because they refuse to examine their own practices. Experts always point to others to change instead of themselves. Sound harsh? Maybe it is, Continue reading “Healthcare, Trumpcare Won’t Lower Your Premium”

Purchasing Stop-loss Insurance for your Self-funded Plan Requires An Expert

Consider the following questions:

Do you have an employee benefit plan that you self-fund?

Are you responsible for purchasing stop-loss coverage to protect your employer interests?

Is your broker experienced with hundreds of cases that provide you comfort they know what they’re doing?

Are you a broker who is trusted by a client but need an expert to help you keep that trust?

Is the person purchasing stop-loss for your business relying upon an inexperienced agent, broker, or consultant to make the right recommendation? Continue reading “Purchasing Stop-loss Insurance for your Self-funded Plan Requires An Expert”

Healthcare: Ask Better Questions

EMAIL to President@whitehouse.gov

President Trump,

You are being led down the same path as Obama for healthcare solutions by the same consultants and lobbyists. Stop looking at their answers that have kept us stuck for 40+ years. The financial angle is not the solution for healthcare. Your industry consultants (like AEI) do not want the questions I’m asking to be asked, guess why?

I believe you want something different to make America Great and that’s why you were elected. The American public is stuck with a very broken system that is too self-serving; my kind of change is what you’ve targeted in your talks. I hope you will see the problem.

You need to ask different questions, I’ve written the questions that lead to better answers; find more than 50 blog posts that ask better questions here “Healthcare White Paper.” As a small business owner of 18 years, I’ve worked at insurance companies, with hospitals, doctors, individuals, the indigent, failing government organizations, large business and small.

Why not try something no one else is talking about; if you don’t go in a different direction the only fix will be a Government one. My posts point to a different solution.

May God Bless your work,

Don

*Don Watza, CEBS*
248-881-3310 | DjWatza@gmail.com
Health Economics: www.DonWatza.com
Share My CV: https://www.visualcv.com/donwatza