![](https://biggerpockets.s3.amazonaws.com/assets/member-blog-image.jpg)
![](https://biggerpockets.s3.amazonaws.com/assets/logo@3x.png)
New Retirement Age
America needs to take a whole new look at how they save and prepare for retirement. One of the biggest fears of people approaching retirement age is that they will outlive their money and become a financial burden on their children. If you were born in 1960 or later, you will have to wait until you are 67 to collect full Social Security benefits.
A recent study conducted by the Center for Retirement Research at Boston College showed that a rather large percentage of Americans are facing a decline in their standard of living when they retire. In order to have enough money to preserve the same standard of living they enjoyed prior to retirement, people may have to postpone their planned retirement date. They may have to work into their late 60's or maybe until they are 70 years old.
Today, people are living longer than ever before. It is not unusual to see a very active 80 year old or even someone living well into their 90's. With the strong possibility that you may live another decade or two after retiring, it is extremely important to take control of your retirement account today. You can not afford to rely on the government, your family or the generosity of strangers to support you once you stop working.
A Self Directed retirement account, such as a Solo 401K or Checkbook IRA from Sense Financial, allows you to have full control over your retirement account. It giving you the flexibility to use your retirement funds to purchase income-producing real estate, invest in mortgage notes and choose other non-traditional investments. A Solo 401K or Checkbook IRA from Sense Financial allows you to take full advantage of the outstanding investment opportunities in today's real estate market.
Instead of just hoping that everything will turn out okay, be proactive. Take the positive step and begin learning how you can be in control of your retirement account and ultimately of your financial future.
Comments (3)
Having been born in 1960, I've put little faith in even seeing a social security check. I took control of my retirement many years ago so a social security check wouldn't be a necessary component in my retirement planning.
Account Closed, about 12 years ago
Totally agree with you Kevin! Most people been pushed by fear to keep giving their money to their stock brokers and the results are devastating... And then people blame someone else for the failure of their retirement accounts. The solutions is for each individual to take the control into their owns hands and put their retirement dollars into investments that they understand and have better control over, like real estate, and not keeping it in the stock market which you and I have no control over.
Dmitriy Fomichenko, about 12 years ago
nothing is more powerful than taking control of your retirement. Self directed investing allows you to focus on income as opposed to account value. Income is what matters in retirement.
Kevin Kaczmarek, about 12 years ago