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Editor's Note: Keith's Money Map Report readers have had the chance to pad their retirement savings with what he calls "26(f) programs." These give investors the chance to tap some of the most aggressive income potential on the market, with monthly payouts of $2000… $5000… or more. You can click here to learn how it works…
According to Time.com, more than 50% of Americans age 35-54 have less than $10,000 saved for retirement. How we got to this point over the last 15 years is hardly surprising.
In the wake of the Great Recession, many people saw their 401(k)s wiped out, and they lost a lot of faith in the financial markets. Members of Generation X lost 45% of their average net worth during the financial crisis, according to the Financial Times.
If you find yourself in this group, let me start by reminding you of two things:
First, you are not alone. Millions of Americans are in the same situation.
Second, you have plenty of time to start building or rebuilding a retirement nest egg that'll put you on your way. According to retirement experts, most Americans have time to catch up and reach their retirement goals.
If you've already started saving money, consider yourself ahead of the game. But you still need to set aggressive goals if you want to retire at 60.
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean, and he's also the founding editor of Straight Line Profits, a service devoted to revealing the "dark side" of Wall Street... In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.