You may have seen this headline on CNBC in the middle of September:
“Retirement on Hold:  American Workers $6 Trillion Short”

The study was conducted by Boston College’s Center for Retirement Research, and the shortfall is mainly attributed to declines in stock and housing prices.  The study is based on projections of retirement income for American workers age 32 to 64, and uses what are deemed to be “conservative” assumptions to arrive at the figure.

While the headline certainly grabs your attention, is it cause for concern?  On a collective basis, the answer is “yes”.  Many Americans haven’t adequately planned for their retirement, and the recession and drop in asset prices only makes the job tougher.

Retirement planning is hard to measure in the aggregate, though.  What is most important is how are you doing in your retirement planning?  That is an individual question, and one that can only be answered by completing a personalized Retirement Planning Analysis.  By having this analysis done, you can determine how you are progressing to your retirement goals, and make necessary changes now if you’re behind schedule.

The concept of Retirement is also going through a monumental change, which isn’t captured in a study like the one touted by CNBC.  Retirement is no longer a time to check out from life, kick back, and watch your remaining years go by.  At Modus Advisors, we’ve developed a white paper called The New Retirement that chronicles the changing face of retirement and what that means for your golden years.  Click here to see the full paper.
 
Modus Advisors helps successful people project their retirement needs, develop a plan for a meaningful and fulfilling retirement, and then monitor the plan throughout the years to stay on track.  Our planning and portfolio management is designed to help you stay on track in all economic environments.  If we can help you or someone you know plan out their personal retirement, please call us at (952) 946-1000.