The question isn't at what age I want to retire; it's at what income.
— George Foreman
In a recent survey of Baby Boomers by MoneyTips.com, it was revealed that many are heading for a financial trainwreck. One-in-three Boomers have NO financial plan whatsoever, while four-in-ten aren’t saving enough to meet their retirement goals. As a financial writer, you recognize that if enough Americans don’t prepare for retirement, the rest of society will bear the burden of helping to support them.
Which brings me to the purpose of today’s post: Along with Philip Taylor — founder of FinCon and PT Money — I’d like to invite all personal finance bloggers and media to join The Retiree Next Door Movement. So far, 50 bloggers have joined, and I'd like you to promote the cause as well.
This exciting, one-day event —inspired by a conversation with GoodFinancialCents.com founder and CFP Jeff Rose — is designed to help all Americans prepare for a successful retirement. It is being produced by MoneyTips.com, the personal finance community with 58,000 Facebook “likes” created by the founders of Savings.com and LowerMyBills.com. Your readers will discover surprising and valuable insights directly from the people they trust while you amplify your “street cred” on the retirement beat.
We laid the groundwork for the movement earlier this summer when several top social influencers in personal finance — including CFPs Jeff Rose and Cathy Curtis; CPAs Ebong Eka and Ed Slott; Wealth Managers Greg Skidmore and Winnie Sun; and personal finance blogger extrordinaires Bob Lotich and Philip Taylor — helped MoneyTips survey more than 500 Americans who are currently, or soon to be, retired.
This landmark Retiree Next Door survey, which was released on September 18, reveals how much successful retirees have saved and how; how they spend and how they live today; and how they minimize the risk of outliving their savings. We even unearth their biggest financial missteps in the hopes that future retirees can learn from them. Among them:
- “Buying a boat, instead of a piece of land”
- “Not purchasing more rental properties”
- “Trusting salespeople”
- “Not living on one income – we had two good incomes and should’ve saved one completely”
- “Refinancing my mortgage twice to reduce interest rates, rolling closing costs into the mortgage and extending the mortgage out to 30 years. My home would have been paid in full had I only reduced the interest rate without extending years.”
We like to make waves, and we’re hoping your collective groundswell of posts, tweets, comments, likes and shares will generate a holistic view of retirement that impacts millions of Americans in a big way.
A whopping 70 of your colleagues have committed to the movement so far. Want to join the conversation? Here's how:
If you are a personal finance blogger, vlogger or podcaster, we welcome you to register here and/or send me a Tweet at @MichaelDubrow1 with your contact details. Let me know, too, if you'd like to interview one or more retirees who've agreed to share their financial journey to retirement.
Be sure to send me a link to your blog post and I will include it on my follow-up post on MoneyTips.com. I’m hoping to link to every participant so members of MoneyTips' fast-growing community can easily find your content.
If you're not a blogger, you will be able to download a copy of The Retiree Next Door shortly.
Join The Retiree Next Door Movement today — and let's educate and inspire all Americans to prepare for a secure retirement!