There’s a Retirement Crisis in America – Here’s How to Avoid It

I discovered a unique system that changed everything for me – and for thousands of other investors.

There's a Retirement Crisis in America - Here's How to Avoid It

Image source: InvestorPlace Media

We all know about how the coronavirus pandemic hit the US economy last year. Millions of Americans lost their jobs and the country entered an official recession.

We all know the US economy is recovering. In fact, the Atlanta Fed expects GDP growth to hit 3.6% in the fourth quarter. The US economy also created 261,000 payroll jobs in October, significantly higher than economists’ consensus estimate of 205,000. August and September payrolls were also revised higher by 29,000.

Unfortunately, inflation continues to rise.

Anyone who has shopped weekly or bought a car recently knows all about that level of inflation… but I dug up some stats just to help prove our point.

The producer price index (PPI) rose 0.4 percent month-on-month in September and is now up 8.5 percent year-on-year. Core PPI, which excludes food and energy, rose 0.3% last month and increased 7.2% year-on-year. Economists only expect PPI to rise 0.2% and core PPI to rise 0.3%.

Wholesale food prices rose 1.2% in September, while wholesale energy prices rose 0.7%.

Consumer price index (CPI) was also hotter than expected – up 0.4% in September and 8.2% over the past 12 months. The core consumer price index, which excludes food and energy, rose 0.6 percent in September and 6.6 percent over the past 12 months. In August, the core consumer price index was running at a 6.3% annual rate.

The rise in the core inflation rate is reaching levels not seen in 40 years (since August 1982).

Housing costs are also on the rise, with Owner Equivalent Rent up 0.8%… and car insurance costs up 1.6%, signaling underlying inflation is now affecting costs service.

Meanwhile, while overall energy costs fell 2.1% in September, food prices rose 0.8%.

All of this is bad news for the average American consumer… but it’s devastating for those of us nearing retirement.

In fact, this inflation has disrupted many people’s retirement plans. Millions of Americans who have worked hard all their lives, thinking they were insured, are now facing a retirement crisis… and inflation is only making it worse.

It is eating away… gobbling up… our savings.

According to Northwestern Mutual’s latest Plan & Progress 2022 study, 43% of people are not confident they’ll have enough money when it’s time to retire. Additionally, the average American’s retirement savings fell 11% from $98,800 a year ago to $86,859. The expected retirement age has risen to 64, up from 62.6 the previous year.

“It’s been an uncertain time for many, largely due to rising inflation and volatility in the market,” noted Christian Mitchell, executive vice president and chief client officer at Northwestern Mutual. “

So if you’re worried about your financial future – especially when the markets get turbulent – I completely understand. It’s a scary thing to think about if you’re not prepared.

And believe me, I know how it feels… and I also know that it can be turned around. I certainly don’t come from riches. My father was a stone mason, and I was the first in my family to go to college.

But by the time I completed my Cal State Hayward MBA, I had discovered a unique system that changed everything for me – and for thousands of people. other So do investors.

I call it Oracle Project.

On Tuesday, I’ll be releasing a special recap of Oracle Projectwhere I will detail exactly what Oracle Project is, “special sauce”, and how does it find big winners, like…

  • Increases 180% when using Valero Energy
  • 169% increase on Nutrisystem
  • 173% profit on Spreadtrum Communications

At that press conference, I will also be sharing my #1 stock – stock icons and all – absolutely free. It is becoming the big battery winner in the electric vehicle (EV) space.

Sign up now to be one of the first to receive my exclusive recap on Tuesday, November 8.

Published first on InvestorPlace. Read here.

Featured image credit: Kindel Media photo; Bark; Thank you!


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