2 Terrible Reasons People Don't Save For Retirement...
It’s the EVG Research Team.
Talk about scary...
The US Census Bureau just completed an in-depth study on the state of retirement savings in the US.
And they found that 2 out of 3 Americans don't contribute ANYTHING to their 401k (or similar retirement plan).
Read that again carefully.
They did NOT say people weren't saving enough.
They said people weren't saving at all. Nothing. Nada. Zip.
With traditional pensions all but vanished, it's no wonder so many folks are trapped working jobs they hate well into their 70's and even 80's.
And it's no wonder 75% of people say they're worried about having enough money for retirement.
Now, the study also looked at WHY this was the case. And they made two interesting observations...
REASON NUMBER ONE: LACK OF ACCESS
Only 14% of all employers offer a 401k or similar plan to their workers.
And even if you happen work at a big company, there are a whole bunch of barriers.
There's lots of complicated paperwork.
There's the poor quality of most plans out there.
And on top of that... a lot of people aren't even eligible.
For example, firms aren't required to offer a 401k to "part-time" workers until they work at least 1000 hours. That's almost half a year of working 40 hours a week.
And then there's...
REASON NUMBER TWO: LACK OF KNOWLEDGE
As the study showed, many workers didn't even know their company 401k even existed!
And even if workers do know about them...
They then have to make a ton of complicated investing decisions that no one explains clearly.
What to type of plan to pick. How much to save. Which of the 10,000 or so funds to invest in. And on and on it goes.
It's easier to just not bother with it.
And most people don't.
Now here's the saddest part of all this...
These are bad reasons for not saving for retirement.
The truth is... you don't have to depend on your employer for what you can invest in or to show you how you should invest.
You can take full control of your own financial future YOURSELF.
How?
Well, in our conversations and study of hundreds of millionaires, we found that the ultra-rich approach retirement VERY differently than the middle class.
Instead of throwing their money in the stock market and hoping it grows year after year (and doesn't crash either)...
They put it into assets that offer guaranteed rates of return and zero risk of downside. (Find out how they do this here.)
Instead of hoping some they don't burn through a finite amount savings before they die...
The rich invest in assets that produce ongoing cash-flow FOR LIFE.
In fact, as this EVG lesson explains...
The wealthy actually end up becoming even richer AFTER they retire.
Talk about true financial security! If your money is going up constantly, you don't have to worry about running out of cash or being able to handle some unexpected expense.
I highly recommend you review (and implement) this critical lesson today.
Don't wait on anyone else. Take control of your retirement. Get the right knowledge.
The study didn't even mention the fact that most 401k's have ridiculous fees, hardly grow your money at all, and leave you exposed to the risk of losing everything in a stock market crash.
Find out a smarter (and safer) way to save for retirement:
Go here to access this lesson...
Sincerely,
EVG Research Team