Despite the Dow hitting all-time highs, millions of Americans still have a dismal outlook when it comes to their ability to retire.
Consider these five statistics:
- The average retirement account balance for those nearing 65 is only $12,000. (National Institute on Retirement Security)
- 40% of baby boomers now plan to work until they die. (AARP)
- 36% of Americans say they don’t contribute anything at all to their savings. (CNBC)
- 87% of adults say they are not confident about having money for a comfortable retirement. (Lifehappens.org)
- The expected retirement age is up to 67 from age 63. (Zero Hedge)
So why, in the great prosperous country of America, are so many faced with doomed retirement dreams?
Those who took the surveys pointed to the rising cost of living and day-to-day expenses as the reason they are worried about or unable to save enough for retirement. And many also noted that rising healthcare and long-term care costs will have a major impact on their ability to afford a comfortable retirement.
They can’t count on safe investments like CDs, bonds, and money market accounts to provide any sort of appreciable income to help cover monthly expenses during retirement. Yields on those investments are down 85% in the last six years.
Adding insult to injury is the fact that the once mighty dollar no longer goes as far as it once did, as a result of the loose monetary policies from the Federal Reserve.
“The biggest retirement mistake people make is they stick their money in a bank,” comments Aaron DeHoog, the financial publisher of Newsmax. “The reality is, inflation will destroy 50% of your savings every 22 years if you let it sit there. You have to put your money to work, safely.”
Inflation, as it turns out, will become an even bigger threat over the next few years. It’s due to the reckless strategy of the Federal Reserve to print massive amounts of money out of thin air in an attempt to stimulate the economy.
“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Robert Wiedemer, world-renowned economist and author of the New York Times best-selling book Aftershock
When asked how bad he saw inflation getting, Wiedemer boldly stated: “By the end of 2013, we will start seeing inflation approach 10%. From 2013 through 2016, it’s going to get much worse. We could see 100% annual inflation for a consecutive three-year stretch, which of course will be a complete disaster for those who aren’t prepared.”
Editor’s Note: See the controversial video where Wiedemer makes his claims. Click here now.
Wiedemer added, “Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”
Before you dismiss the possibility of 100% inflation as unrealistic, consider Wiedemer’s credentials.
In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy
The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.
A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the 40 percent losses that followed.”
The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”
And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”
Despite Wiedemer’s grim outlook for our country, Main Street investors don’t have to see their investment and retirement accounts decimated for the second time in five years.
Editor’s Note: See the 5 signs the stock market will collapse in 2013. Click here now.
In a recent video interview for Aftershock
, Wiedemer offers a comprehensive blueprint for economic survival that’s really commanding global attention.
Based on thousands of hours of research, Wiedemer has identified the necessary investments every American must make to survive the devastating times ahead. Following the simple blueprint provided in this presentation could mean the difference between living out your “golden years” as you had hoped — traveling the world, golfing, and visiting with family and friends — or facing a nightmare of working well into your 70s and 80s, trying to salvage your retirement savings so you don’t spend your final years living in relative poverty.
Now viewed over 50 million times, it was initially screened for a relatively small, private audience. But the overwhelming amount of feedback from viewers who felt the interview should be widely publicized came with consequences, as various online networks repeatedly shut it down and affiliates refused to house the content.
“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax’s DeHoog.
“Our real concern,” DeHoog added, “is the effect even if only half of Wiedemer’s predictions come true.
“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”
Editor’s Note: For a limited time, Newsmax is showing the Weidemer interview and supplying viewers with copies of the new, updated Aftershock book including the final, unpublished chapter. Go here to view it now.
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