Ten Thousand A Day

Ten thousand people a day. Think on that for a moment. There are ten thousand people retiring every day in the United States and there will be for nearly the next twenty years.

To put that in perspective, it’s like the entire work force of general motors retiring every three weeks, or all of the people in Los Angeles leaving the workforce next year.

Why should you care, beyond the fact that that’s a pretty interesting statistic? For starters, it means that whatever your current situation and whatever your prospects, you are not alone. Whenever you deal with that number of people, there are no Lone Rangers, no one who has to feel singled out or go it alone.

In fact, if you are one of those who has not adequately saved for retirement, you might actually be in the majority.

That also means, that in the coming years your priorities and your problems are likely to become the priorities and the problems of the country as a whole. Imagine if you will, half of the people of Los Angeles voting to finally get a handle on social security or medicare. And then image that next year that number will double.

And that goes double for issues that can be dealt with by the market, such as senior mobility. In that case you and your friends won’t have to do anything more than be wiling to spend money on solutions. The sheer number of you will dictate that the market will find solutions and offer them to you.

Part of retirement planning should always be in getting prepared for the worst possible outcome by limiting the downside of your investments as you near retirement and in preparing yourself psychologically to live as best you can if that eventuality comes to pass. Plan for the best, prepare for the worst.

But don’t let the nagging fear that everything is going to crash around you ruin your present, even if that is difficult to do these days. There is good reason to be optimistic.

Remember, there is strength in numbers. There is no real reason to expect that things can’t get better.

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