Hello. My name is Darius D. Stover. Joining the military in 1983 and retiring in 2003 were all proud moments for me. In fact, the military saved my life. I am forever grateful.
The average person has $60,000 in assets when they retire! That’s after earning an average of $2 million over their lifetime. Does this seem right? It doesn’t, but it’s reality and this includes the equity in their homes.
These numbers certainly don’t pave the way for a fun and a carefree retirement, right? There is a way though, and I provide a solution by helping people make the most of their money so they have a lot more money during retirement.
Here’s what you must know.
Only about 26% of Americans have enough saved for retirement. That’s scary news! Why is this happening? Here are the top reasons.
Debt
People are in debt. According to Experian’s Consumer Credit Review, the average consumer has $92,000 in debt. This includes $5,300 in credit card debt, $19,000 in car loans, $38,000 in student loans, $208,000 - $248,000 in mortgage debt, and $16,000 in personal loans.
Not only are you paying the debt back, but you pay interest on every dollar you owe. Think of every penny you pay in interest as an opportunity cost for saving for retirement. Is it worth it?
The key is to get out of debt fast. Stop making the minimum payments and really hit your debt hard. You’ll not only pay the debt off faster, but you’ll have a lot more money in your pocket from the interest savings.
Not Enough Savings
In general, we don’t know how to save. We either pay ourselves last after we pay bills and spend money or we just don’t budget for saving at all.
The reality is we need to save early and often. The more we save now, the faster our money will grow. When you don’t save money, you lose the potential compounded interest or earnings. Again, this is an opportunity cost or you could think of it like throwing money out the window.
If you saved some money (even a little bit), it would grow every day, leaving you with more money for a peaceful retirement.
The key is to save the RIGHT way. Too many of us just throw money in a savings account and hope for the best. Sure, you’ll earn some interest that way, but not nearly enough to get you through retirement.
Too Much Spending
Instant gratification, lifestyle creep, and self-care are just a few of the reasons people overspend. Whether you’re trying to keep up with the Jones’s or just love spending, it digs a hole you can’t get out of very quickly.
The problem is the money you spend now may create instant gratification, but what about your figure? Every dollar you spend now robs you of much more money moving forward. You lose the opportunity to earn interest or compound your contributions.
Poor Financial Decisions
If there’s one thing most of us didn’t learn in school, it’s personal finances. You may have taken a general course on finances, but most graduates don’t leave high school or college with an in-depth knowledge of how to save money, invest money, or even how to make tough financial decisions.
In fact, only 39% of Americans can cover a $1,000 emergency. What happens when the emergency costs much more than that?
If you're reading this, you already know you need to do something about it, but there are just way too many options and when things get confusing, it's very easy to do nothing.
To avoid this, I've made it extremely easy for you by breaking down all the options for YOU. Let's get started:
Enter the YOUR FAMILY BANK® concept.
Get Out of Debt is a simple phrase. But more than that, it's a simple idea, yet the concept eludes tens of millions of American families each year.
The Your Family Bank concept provides a solution for paying off debt, reducing taxes and increasing retirement savings using a safe, predictable product that provides guarantees. YFB can show you how to be free from lenders in 9 years or less, including your mortgage, without spending any additional dollars.
I'll Show You:
1. How to reduce the volume of interest you are paying to lenders.
2. How to get out of debt in half the time as your current schedule.
3. How to increase your cash-flow.
4. How to decrease your taxes.
5. How to save for college.
6. How to retire with tax-favored income.
Since 2009, YOUR FAMILY BANK® is a name our clients can trust. Our unique approach to financial education has always centered around families. We believe that financially strong homes today, lay the foundation to bright futures for tomorrow's generation.
In the past 3 years alone, our clients have saved a projected $171,006,000 of interest & a projected retirement increase of over $1.4 Billion dollars!
Don’t wait! We are helping active duty service members, veterans and their families qualify! To learn more about how this concept can work for you and your family, click the {Learn More} TAB Below.
