The Social Security Administration says the average annual retirement income for folks 65 and older is just under $20,500. If you’ve not planned for retirement, will you be able to live on that amount when you retire?
The simple answer is “No.” And it’s proven by the fact that approximately 6.1 million people age 65 or older are currently working, compared to 3.8 million a decade ago. That’s an increase of more than 60%!
There is a solution: self-directed investing. It begins with taking greater control of your retirement by opening or rolling over your current IRA or 401(k) into a Self-Directed IRA or Self-Directed 401(k). Doing so can help you afford to retire – on your own terms – by enabling you to diversify your portfolio in a variety of IRA-permitted investments.
These investments include real estate, tax liens, foreclosures, structured settlements (like lottery winnings, insurance settlements or casino jackpot payouts) and promissory notes (where your IRA loans money and is paid back principal and interest). Plus, investors are finding new areas to invest in, every day. They include livestock, renewable energy, grain cars, medical equipment, timber and more.
There are many reasons why people can’t afford to retire, from not being able to save to losing money in the stock market or other risky investments. Be sure to improve your chances of retiring comfortably by taking as much control of your retirement savings as possible with a Self-Directed IRA.
Discover How You Can Retire When You Want
Take advantage of our Free IRA Wealth Checkup (normally $125) or speak with an Equity Trust Retirement Specialist at 1-888-382-4727. You’ll gain a clearer picture of how to take charge of your financial future, where to get help and what you can do right now to secure your retirement.
Filed under: Uncategorized on June 1st, 2010