Retirement Resources President, Dave Boike, Strongly Encourages Readers To Start Financial Planning
Retirement Resources President and Investment Advisor, Dave Boike, highlights the history and likely future of the Social Security program while encouraging readers to take responsibility and action now to make their futures more secure.
Auburn Hills, MI - May 23, 2022 -- Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy, published a new article on the company website entitled, “It’s Time To Seriously Consider How Secure Your Social Security Will Make You Feel,” in which Mr. Boike shares a little history and a glimpse into the future.
“Okay,” Boike writes, “I’m going to state right off the bat, I am not trying to cause fear or panic. I’m only planting the seed for the realization that it’s never too early to create a sound retirement income plan and strategy.” “The main point,” he adds, “is that counting on Social Security is clearly not going to be as secure for Gen X, and Millennial retirees as it was when first established.”
Boike then gives a little bit of background. He writes, “When Social Security was established in 1935, there were 16 people paying into the system for every person collecting benefits. Today,” he reports, “there are less than 3 workers paying in for each person collecting. When 2032 rolls around, this number is expected to drop to 2 people paying in per person collecting.”
Boike goes on to write, “The fact is that in 2010 Social Security began paying out more than it collected through all sources and is projected to continue doing so for the next 75 years. The current statistics say Social Security is headed to insolvency by 2033. That’s just 11 years away.”.
According to Boike, “Taking responsible action as soon as possible to make your retirement as financially comfortable as possible can be an enjoyable process once you get started.” He elaborates, “Saving and watching your nest egg grow gives you the confidence and ability to meet expenses along the way. Knowing that you will be able to continue the lifestyle you love during retirement is ultimately satisfying.”
Read the entire article at LINK HERE
About Dave Boike
Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth. For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College.
For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.
Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning. He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals. As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s and is teaching a class at Oakland Community College.
Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges. He teaches you in this easy-to-read book how to take the steps necessary to achieve your successful retirement.
Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.
Retirement Resources has been rated A+ Excellent by the Better Business Bureau for many years.