America's Retirement Crisis (and How We Can Help)

by James Hires

How Much Americans Have Saved for Retirement

Let's be honest. The U.S. has a serious retirement problem...

The Club's Bond Strategist Steve McDonald writes extensively about this issue.

About 42% of Americans have less than $10,000 saved for retirement.

Even most of those with retirement accounts don't have enough to last a long retirement. The median account balance for Americans nearing retirement is $15,000.

And that money is supposed to last them the rest of their lives!

Don't look to the government for help. Social Security's reserve funds will be depleted by 2034. Medicare will most likely become insolvent by 2026. The country is in massive debt... and so are many Americans.

The United States is $22 trillion in the hole. The money to support retirees simply won't be there if something isn't done soon.

Many young people are so heavily burdened with debt that they're struggling to make ends meet, let alone save for retirement.

And companies no longer offer pensions like they used to. Even at the height of the pension era, only a little more than half of Americans could rely on one. (And that's if they worked at the same company their whole career.)

So how did we get here?

In short, the job market today is fundamentally different from the market of the '40s and '50s. People aren't working at the same place their whole career anymore. So they need a retirement plan they can take with them from job to job. Enter the 401(k) account.

The 401(k) was touted as a simple, portable replacement to pensions - a tax-advantaged retirement account that invests a self-selected percentage of every paycheck into the stock market.

It seemed like the perfect solution.

Instead, it's become a byzantine mess most people can't understand. And the money in these accounts is often poorly managed.

Given our current state of retirement affairs, it's clear the 401(k) isn't the cure-all it was promised to be.

Of course, having a 401(k) is a good thing. But depending on when you started saving (and how long you live), it may not provide the retirement you want.

The bottom line is this: Your retirement is on you.

So what can you do?

The answer - as you've likely figured out if you're reading this - is to invest.

One in 6 Americans retires a millionaire. Unless they were born wealthy or had remarkably lucrative careers, odds are they made that money through investing.

And so can you.

That's where we come in. The Oxford Club can't fix America's retirement crisis single-handedly. But we can use our collective knowledge to help you retire closer to the 1% than the 42%.

Our experts use proven strategies and proprietary systems to make recommendations that consistently trounce the S&P 500.

Whatever your investing interests or comfort level, we have a road map to help you retire in style.

Good investing,

James

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