Can America handle 78 million Baby Boomer Americans broke at retirement? Interview with Douglas Andrew sends this message to Boomers; "Your Last Chance Has Become Your Best Chance At Retiring a Millionaire"
Salt Lake City, UT (PRWEB) June 12, 2007 -- The brand new "Inside Wealth Success" radio show got a sneak preview at the new little book about retirement options that is beginning to put the world of financial planning on its head.
The age group most affected in America right now are the Baby Boomers (approximately 43 - 61 years old). Douglas Andrew, well-known wealth expert is advising people to pay attention, because their retirement 'nest-egg' might be in trouble because traditional retirement savings wisdom won't yield enough to live on in their golden years. Andrews also shares a message of hope by revealing a new strategy he has been training other financial advisors in that has proved it's not too late to become wealthy.
Many Boomers will be retiring througout the next 20 years. The ones who have been making what Andrews refers to as "Baby Boomer Blunders" will be experiencing financial crisis as they out live their money. The systems that worked for their parents are not enough for Boomers both because of the huge numbers of Baby Boomers outstripping the capabilities of the Social Security system and because of longer life expectancies.
"Most Boomers will find themselves in trouble, because they've lived long enough to make all of the financial blunders created by using conventional 'one-size-fits-all' strategies," says Douglas R. Andrew, bestselling author of Missed Fortune 101. He goes on to say, "Even Boomers who have been saving like crazy and have paid off their home mortgage could be in serious trouble at retirement."
On the show Andrew talked about his most recent book, "The Last Chance Millionaire", which showed how traditional saving and investment strategies often have people using short-term investments for long range goals, or worse still, using long-term investments for short-range goals
Andrew also gave examples of common "Baby Boomer Blunders:"
** The belief that paying off a mortgage will give peace of mind
** The hope of dropping to a lower tax bracket when upon retirement
** Use of deferred tax retirement funds hoping it will save money
** Having money saved based on only living for fifteen or twenty years after retirement
Recent studies show that most Boomers haven't saved enough; or, if they have saved, they've done it in the wrong way to provide actual security.
Some Boomers are already waking up to the hard reality that they don't have enough saved. The typical reaction, according to Andrews, is shock and a feeling of isolation, lack of control, and not a little fear for the future. This is a remarkably similar reaction, psychologists tell us, a person goes through when they discover a spouse has been cheating on them.
Thousands of financial planners, who are now learning the new wealth building strategies taught by Andrew's company in order to help their clients have admitted to giving mediocre advice. While these professionals generally take their responsibilities seriously, they have been hurt as much as much as their clients by lack of good options.
The positive message of this new Inside Wealth Success show, which is now playing on www.InsideSuccessRadio.com">www.InsideSuccessRadio.com, is that 'Late Blooming Boomers' could strike it rich with a smart change in their financial direction.
And even better news for today is that "The Last Chance Millionaire" book is now available every where books are sold and no matter what the reader's age, they can jump ahead of the crowd and find out how to build their own retirement nest-egg quickly and securely by reading it.
http://LastChanceMillionaireBook.com
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