fsgmichigan.com
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For instance, in 1980, at the peak of
Grandpa's working career, 38% of workers
had a pension. Today, less than 15% of
workers have a pension plan, with that
number shrinking every day. (1) Careers also
tended to be more stable during Grandpa's
working years, with Gramps putting in
33 years with the same company before
retiring. This is compared to today, where
the average worker switches jobs 12 times
during their career. (2)
Frankly for Grandpa Mick, hiring a financial
planner was not a necessity. Between his
pension, the interest rate environment, and
the stable Social Security system of the time
his retirement plan was on solid footing.
Unfortunately, today's pre-retirees and
retirees face unique challenges that require
either an enormous amount of self education or the expertise of a qualified financial
planner.
This book intends to address some of the challenges today's investors face with
practical advice. There is no question that retirement in the 21st century will look
different in ways previous generations could not have imagined. This book of course
cannot provide solutions for every personal
retirement challenge one might encounter but
it should give you the confidence to determine
whether you can handle your financial plan yourself
or if you require advisor assistance.
1. https://www.fool.com/investing/2018/06/05/pensions-are-disappearing-heres-how-to-save-for-re.aspx
1. https://www.thebalancecareers.com/how-often-do-people-change-jobs-2060467
"Today, less than
15% of workers
have a pension
plan"
