UNCOMMON CENTS 85

IF POLLED, WHO WOULDN'T SAY HE OR SHE PLANNED TO RETIRE? APPARENTLY 10% OF RESPONDENTS. BUT FOR THOSE WHO ANTICIPATE RETIREMENT IN THEIR GOLDEN YEARS, 22% SAY THEY HAVE NOT TAKEN ANY STEPS TO PLAN FOR RETIREMENT. ONLY 29% SAY THEY ARE CONTRIBUTING TO AN EMPLOYER-SPONSORED ACCOUNT SUCH AS A 401K. ONLY 21% HAVE OPENED A SEPARATE RETIREMENT SAVINGS ACCOUNT OR A ROTH IRA. ONLY 20% INVEST IN STOCKS, BONDS, MUTUAL FUNDS OR ANNUITIES. 65% EXPECT SOCIAL SECURITY TO BE THEIR PRIMARY SOURCE OF INCOME. 50% SAY THEIR 401K'S WILL SUPPORT THEM. ONLY 30% PLAN TO COUNT ON THEIR PENSION PLAN OR THEIR IRA INVESTMENTS.

NUMBERS DON'T LIE THOUGH THEY PROBABLY DON'T COMPLETELY REFLECT REALITY. NUMBERS SHOULD PROMPT US TO ASK OURSELVES QUESTIONS ABOUT OUR PLANS FOR THE FUTURE. THE FAMOUS 80/20 RULE APPEARS TO BE IN PLAY. 80%, A MAJORITY OF PEOPLE, BEHAVE LIKE CAREFREE FOOLS. A MINORITY, 20%, TAKE STEPS TO BUILD WEALTH. NOWADAYS IT COULDN'T BE EASIER TO SAVE AND INVEST. BEYOND YOUR SOCIAL SECURITY WITHDRAWALS THAT WILL NEVER BE SUFFICIENT FOR YOUR RETIREMENT NEEDS, THERE ARE MANY POSSIBILITIES: A SAVINGS ACCOUNT, A CHECKING ACCOUNT, A 401K, AN IRA, BONDS, MUTUAL FUNDS OR ANNUITIES. THE POSSIBILITIES ARE MEANINGLESS, OF COURSE, IF 80% DO NOT MAKE USE OF ONE OR MORE POTENTIAL SOURCES OF SAVINGS AND INVESTMENTS. THERE IS NO DOWNSIDE TO THE ECONOMICS OF WEALTH BUILDING.

HINT: WHAT ARE YOU WAITING FOR? WHY SIT ON THE SIDE LINES OF WEALTH ON THIS SUPER BOWL SUNDAY MINGLING WITH THE 80% OF SPECTATORS? YOU TOO CAN BE A WINNER WITH THE 20% PLAYING FOR MONEY. WHAT A SEVERANCE PACKAGE YOU COULD EARN!