This Retirement Strategy Will Work Today, Not Tomorrow

  “Like many financial advisers, Kelemen tells clients not to bank on Social Security as a source of income -- especially if they are still in their 30s or 40s. Even the Social Security Administration offers a bleak assessment: Given the current rate of payouts and the expected number of retirees, the Social Security trust fund will be exhausted by 2041, and ‘there will be enough money to pay only 75 cents for each dollar of scheduled benefits.’ That's straight from the statement you get each year stating how much of a payout you can expect.

‘The middle class is hurt by the fact that two legs of the three legs for retirement are disappearing -- Social Security and pensions,’ says Andy Brincefield, CFP, a financial adviser with the Consolidated Planning in Charlotte, N.C. ‘They just can't count on Social Security the same way.’

People are living longer now than when Social Security was created, they're drawing from the fund longer than originally planned. In 1940, five years after President Franklin Roosevelt signed the Social Security Act, there were just 9 million Americans who had reached their 65th birthday or beyond, according to the Social Security Administration. Sixty years later, 34.9 million Americans were in the same age range -- and they're a far healthier lot.

Politicians have proposed several ways to revamp the Social Security system, hoping to ensure funds for later generations. One proposal calls for needs-based payouts, for instance. But no solution seems imminent.”  -MSN  Money

The article fails to mention that the gas prices are increasing more and more with no end in sight.  It is safe to say that high gas prices, electric bills, food, etc. is going to cost more than ever.  The factors need to be taken into account when figuring your long-term retirement plan.  One of my strategies to retirement is to own a house that has VERY LOW taxes, average temperatures in the 80s, a nice breeze year around, availability of free fish (tuna, mahi mahi, wahoo,….), an option of solar power with 110% availability year round, a view that is killer, a two hour and fifteen minute plane ride to Houston which has one of the world’s best medical centers, availability of medicine without prescription for cents on the dollar, low housing insurance costs, low cost of hiring help like a maintenance person or maid, and finally a place where all of my kids and their kids will be excited to visit.

Roatan boasts the lowest Caribbean real estate.  To own a house in Roatan in the mountains with fantastic views of the ocean or right on the beach is easily in reach for most people.  Real estate on other Caribbean islands are 300 - 500% more expensive.  Roatan is VERY unique in that you can fly non-stop directly to the island from Houston, Atlanta, New Wark, Miami, Toronto (seasonally), Milan Italy, etc....  Email myself bill@buyroatan.com or TJ Lynch TJ@BuyRoatan.com for more information on owning property or retiring in Roatan.  We have a Relocation Guide that we can send to you that spells out every cost while living on the island.  Talk to you soon!