Understand Your Retirement Savings? Half of Middle-Aged Americans Don’t

retirement plan

Retirement is a significant part of our lives. It is a milestone that we should undoubtedly be looking forward to experiencing.

However, it’s also a topic that we have been told for decades is complex and so intricate that it should be “left up to the professionals.”

This has led millions of Americans to altogether avoid any participation in the management or oversight of their retirement planning.

In fact, a survey released earlier this year by Schroders and performed on one thousand Americans revealed that 50% of the participants who were in their mid-40’s to late 50s and saving for retirement didn’t know how their money into the assets they owned was allocated.

Sadly, similar results followed for those between the ages of 60 and 67.

When we have so limited to no power handling something so important as our financial future, we become entirely dependent upon third parties.

While the need for certified, accredited professionals is apparent, taking a moment to understand your portfolio, followed by periodically reviewing it, is a sure way to take complete control over your financial future.

For example, and as we saw last year when the Coronavirus black swan event impacted the stock market, the majority of retirement accounts across the board experienced 30% losses while some saw much more significant declines.

Let’s not forget in March 2020, when it took only 22 trading days for the S&P 500 to fall 30% from its record high, the fastest drop of this magnitude in history.

The survey also revealed that healthcare needs and a major market downturn were two primary worries which 81% of the participants who weren’t retired yet felt would drain their retirement savings.

In life, as we know, emergencies, disasters, and unforeseen tragic events will appear.

What feels like far too often; there’s no denying or avoiding that.

And while we can’t accurately prepare for something that we don’t know is coming and don’t know anything about, we can take steps to ensure that we are in a better position to take grasp of whatever comes our way.

With inflation running rapidly, money printing out of control, our nation’s social security fund said to run out in close to a decade, the time to start preparing for worse times is now.

The alarming statistics mentioned above, along with only 4% of all of the survey participants feeling like they were indeed “living the dream,” is not how it is supposed to be.

Gold has been around and even relied upon by entire civilizations for thousands of years.

Historically, in times of economic and financial turmoil, gold has been trusted as a safe-haven asset.

Begin taking back financial control of your nest egg. Call American Hartford Gold today at 800-462-0071 to learn how thousands of Americans are creating their plan with assets like gold.

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