Wake up! Your retirement is your problem

There is no magic wand that will instantly create a secure retirement for everyone. The fact of the matter is that Americans are responsible for creating their own financially stable retirement. Though Social Security keeps most seniors out of poverty, it provides a bare minimum of retirement income. And experts expect some changes to the program in the not-too-distant future.


Most Americans have to develop a siege mentality to retire securely. The battle to secure consistent retirement income involves a two-pronged attack: Save a lot and work a long time. Individuals are not entirely cast to the wolves, though: Regulators and lawmakers, with the help of employers, are constantly working to help Americans prepare for retirement.

Continue reading the source article at BankRate.com.


Damian J. Sylvia
Managing Partner
Retirement Income Solutions

The proven way to retire rich

Last year, the National Bureau of Economic Research with professors from the University of Pennsylvania, George Washington University, and North Carolina State University, released a study entitled "Financial Knowledge and 401(k) Investment Performance."

In it the authors found that individuals who had the most financial knowledge -- as measured through five questions about personal finance principles -- had investment returns that were on average 1.3% higher annually -- 9.5% versus 8.2% -- than those who had the least financial knowledge.

Click here to read the source article at CNN.com. 

Damian Sylvia

Retirement Income Solutions