Retirement Safety Advocate Warns Baby Boomers: Four Retirement
Threats Now Locked Into Political and Financial Systems
Dr. Martin D. Weiss Stresses Need for TWO Retirement Nest Eggs
New Orleans, Louisiana, November 16, 2006 - Dr. Martin D. Weiss, editor of www.MoneyandMarkets.com
and president of Weiss Research, Inc. is urging baby boomers to grow two retirement nest eggs as a safeguard against the systematic destruction of their retirement.
Dr. Weiss is giving this message to the 700 attendees of the New Orleans Investment Conference this week and he provides the full text of his speeches via his public website.
As one of the 78 million baby boomers approaching retirement age, he warns: "The destruction of your retirement is now so deeply imbedded in our political and financial system, even if we had no gridlock in Washington - even if we had a great economic boom of all time - your retirement would still be in grave jeopardy." Weiss outlines four retirement enemies:
- America's corporations have an estimated $500 billion in pension fund deficits plus another $1 trillion in underfunded post-retirement health plans.
- The Social Security deficit is dwarfed by the projected Medicare shortfall, now at $32.1 trillion.
- It would be politically impossible to raise taxes or cut benefits enough to adequately tame these staggering deficits. Therefore, in order to reduce their costs, the government is likely to resort to inflationary policies that quicken the erosion of your dollar's purchasing power.
- Even the equity in your home - once the cushion you could always count on if all else failed - is now threatened.
In light of these four retirement enemies, Dr. Weiss urges baby boomers to build TWO nest eggs:
Nest egg #1. Investments that provide a guaranteed yield to cover basic living expenses.
Nest egg #2. Investments, including exchange-traded funds, that can protect you against the threats to your retirement and, at the same time, give you the opportunity to generate extra cash for special needs, your children's or grandchildren's education, and an enjoyable retirement.
The full text of Martin Weiss' speech is available at :
Dr. Martin Weiss
Martin Weiss, Ph.D., is president of Weiss Research, Inc., editor of the daily MoneyandMarkets.com, and the monthly Safe Money Report, as well as author of the Business Week and New York Times business bestseller, The Ultimate Safe Money Guide: How Everyone 50 and Over Can Protect, Save, and Grow Their Money.