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Thursday, February 2, 2012

Will you be able to retire?

Have you seen the Fidelity commercial where the investor under Fidelity guidance follows a green (get it green?..... like money) path? Well get ready the follow the red path, courtesy of the U.S. Government over the incredibly buffoonish way of handling our social security nest egg. Simply due to the dire straits this country is in financially, social security solvency will not be an issue in the very near future either.

Did you hear Obama speak of Social Security during the State of the Union? Of course, while add to his woes?

President Barack Obama, in his State of the Union speech, didn’t really touch on the subject near and dear to the hearts of millions of Americans — the State of Retirement in the U.S. No doubt he had other pressing matters to address. So allow us the pleasure of issuing — thanks in large part to a many experts on the topic — our State of Retirement column.

Things are bad and, in the absence of action or in the presence of the ill-advised action, could get much worse.

Matthew Greenwald, the president of Matthew Greenwald & Associates, a leading
retirement research firm, say's “I think the state of retirement in America is endangered as the ‘Great Recession’ has taken a toll on the financial status of many and as retirement savings were not adequate for many prior to the ‘Great Recession. There are several things that need to be fixed, including addressing Social Security and helping people feel confident in the viability of the system, more effective defined-contribution plans that do a better job of encouraging participants to defer more of their income and more effective advice to retirees that helps them use their financial assets most effectively when they retire.”

Read the entire article on Social Security here.

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