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There’s a Retirement Crisis in America – Here’s How to Avoid It

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I discovered a unique system that changed everything for me — and for thousands of other investors, too.

Photo Image Credit: InvestorPlace Media

We all know about how the coronavirus pandemic knocked the U.S. economy off its feet last year. Millions of Americans lost their jobs, and the nation fell into an official recession.

We also all know the U.S. economy is bouncing back. In fact, the Atlanta Fed expects GDP growth to come in at 3.6% in the fourth quarter. The U.S. economy also created 261,000 payroll jobs in October, which was significantly higher than economists’ consensus estimate of 205,000. August and September payrolls were also revised 29,000 higher.

Unfortunately, inflation continues to grind away.

Anyone who does the weekly shopping or has shopped for a car lately knows all about that inflation… but I’ve dug up some stats that lay it all out just to help prove our point.

The Producer Price Index (PPI) rose 0.4% month-over-month in September, and it is now up 8.5% year-over-year. Core PPI, which excludes food and energy, increased 0.3% last month and is up 7.2% year-over-year. Economists were only expecting a 0.2% increase in PPI and a 0.3% rise in core PPI.

Wholesale food prices rose 1.2% in September, while wholesale energy prices rose 0.7%.

The Consumer Price Index (CPI) also came in hotter than expected — rising 0.4% in September and 8.2% in the past 12 months. The core CPI, excluding food and energy, increased 0.6% in September and 6.6% in the past 12 months. In August, the core CPI was running at a 6.3% annual pace.

The acceleration in the core rate of inflation is reaching levels not seen in 40 years (since August 1982).

Housing costs also are rising, with Owners’ Equivalent Rent up 0.8%… and car insurance costs rose 1.6%, signaling core inflation is now imbedded in service costs.

Meanwhile, while overall energy costs declined 2.1% in September, food prices rose 0.8%.

All this is bad news for the average American consumer… but it’s devastating for those of us nearing retirement.

In fact, this inflation has shattered many folks’ retirement plans. Millions of Americans who worked hard all their lives, thinking they were covered, are now facing a retirement crisis… and inflation is only making it worse.

It’s eating away at… devouring… our savings.

According to Northwestern Mutual’s latest 2022 Planning & Progress study, 43% of folks aren’t confident that they’ll have enough money when it’s time retire. In addition, Americans’ average retirement savings have fallen 11% from $98,800 a year ago to $86,859. The expected retirement age has risen to 64, up from 62.6 in the prior year.

Christian Mitchell, executive vice president and chief customer officer at Northwestern Mutual, noted: “It’s a period of uncertainty for many people, driven largely by rising inflation and volatility in the markets.”

So if you ever worry about your financial future – especially when the market becomes turbulent – I completely understand. It’s a scary thing to think about if you’re not prepared.

And believe me, I know how it feels…and I also know that it’s possible to turn it around. I certainly didn’t come from wealth. My father was a stone mason, and I was the first in my family to attend college.

But by the time I completed my MBA from Cal State Hayward, I’d discovered a unique system that changed everything for me – and for thousands of other investors, too.

I call it Project Oracle.

On Tuesday, I will release a special briefing about Project Oracle, where I’ll detail exactly what Project Oracle is, its “special sauce,” and how it finds big winners, like…

180% gains on Valero Energy
169% gains on Nutrisystem
173% gains on Spreadtrum Communications

At that briefing, I’ll also share my No. 1 stock – ticker symbol and all – absolutely free. It’s shaping up to be the big battery winner in the electric vehicle (EV) space.

Sign up now to be among the first to receive my exclusive briefing on Tuesday, November 8.

Publish First on InvestorPlace. Read Here.

Featured Image Credit: Photo by Kindel Media; Pexels; Thank you!

The post There’s a Retirement Crisis in America – Here’s How to Avoid It appeared first on ReadWrite.

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