Pensionize Your Nest Egg,
Whether you do it yourself or work with a financial advisor, Pensionize Your Nest Egg gives you a step-by-step plan to create a guaranteed retirement income for life.
Pensionize Your Nest Egg,
The Real Pension Crisis
The Wall Street Journal (United States), October 6, 2014-Pension Dropouts Cause Pinch : "Motorola Solutions Inc. and Bristol-Myers Squibb Co. are the latest companies to cast off billions in pension burdens, fueling a trend that could weaken the government's ability to protect the payouts other employers have promised millions of retired workers. ... Only 14 percent of the nation's private-sector workers were covered by defined benefit plans in 2011, less than half the 38 percent in 1979. ..."
The Guardian (U.K.), February 22, 2013 - Pension scheme membership at 15-year low : "Membership of workplace pension schemes fell for the 11th year running in 2012, to 46% of the British workforce, official figures have shown ... Defined benefit pension schemes, also known as final salary, continue to disappear from workplaces ... The figures show that 91% of public sector employees with workplace pensions had a final salary scheme in 2012, against just 26% in the private sector."
The Globe and Mail (Canada), February 20, 2014 - Shift from defined benefit pensions reinforces need for retirement planning : "For decades, most workers relied on a promise of how much they would receive in retirement from their company pensions. ... But that pension certainty is fading as many companies-faced with large unfunded liabilities and deficits amid low interest rates-moved employees, especially new recruits, to defined contribution plans that guarantee contributions but not final monthly pensions."
The Sunday Morning Herald (Australia), May 10, 2014 - Superannuation well managed could avert a huge blowout on pensions : "A recent report by CPA Australia, based on analysis of more than 8,000 households across the nation, claims Boomers-those born between 1946 and 1965-are using super savings as a windfall to prop up lifestyles during their working lives rather than as an investment to be nurtured for the 25 years of retirement expected for the average person reaching 65 years. According to the Actuaries Institute, most people's superannuation account balances are increasing but will not be enough to meet even a modest lifestyle, regardless of whether it is paid out as a lump sum, converted to an income stream, or ploughed into other investments."
The New Zealand Herald, May 9, 2014 - Private pensions for the lucky few : "Today, 1 in 10 retired people have an income stream from an occupational pension. ... However, by the time today's 48-year-old arrives at retirement, the number getting any private pension at all will be very few, let alone pensions that are inflation protected. ... What will today's 48-year-old do when she reaches retirement in 2031? How will she make her nest egg last?"
Chances are, if you picked up a newspaper over the past few months, or even years, you saw many alarming articles reporting on the dire state of retirement income systems throughout the regions we are focusing on in this book: the United States, the United Kingdom, Canada, Australia, and New Zealand. Flipping through the pages of your morning newspaper, you can find facts, figures, and commentary on the declining place of pensions in these countries, along with lots of agreement about the need for changes, or discussion about changes that are already taking place. Right now, there's an active debate about the future of pensions around the world. We are awash in expert commissions, opinions from public-policy think tanks, and calls for reform from ordinary citizens and voters. But what's the crisis? Why the need for reform? What reform is needed? And what difference does any of this make for you?
Up a Creek without a Pension Paddle
The recent, and very public, debate about the safety of retirement income is replete with startling statistics. In particular, reports quo