Chasing the Failing American Dream: Can Your Retirement Survive the Failing System?
Unlocking the Secrets to Retirement Protection! 🛡️ Don’t panic, but the concern for safeguarding your retirement is at an all-time high! 😱 Many are waking up to the harsh reality that the available tools have let them down. 🛑 Living the American dream and retiring comfortably? It’s a daily challenge! 💸 Understand the impact of the declining dollar and how retirement tools, like certain IRAs, are making Wall Street richer. 📉 Take charge of your financial future—navigate high counterparty risks and the looming threat to Social Security. 🧐 Make informed decisions to safeguard yourself in this crucial moment! 🌐💰
CHAPTERS:
0:00 Retirement Is Broken
1:38 401k Background
2:53 Fees
4:50 Question Why
5:50 Control
6:20 Purchasing Power
TRANSCRIPT OF VIDEO:
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Let’s be honest, the retirement system in America is broken,
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and the old way of doing things is frankly, a scam.
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You want to retire comfortably and protect your wealth,
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but you have to pause and ask yourself
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who is benefiting from the retirement tools that I’m using?
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Is it me or is it Wall Street?
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And the very system itself that these tools you’re utilizing live in
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is based on a failing dollar, a dollar that will not allow you to coast
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in your golden years
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feeling safe and protected anywhere close to the way that you’ve been promised.
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That much has been made clear.
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So how can you see through all the deceit and fraud to protect yourself for this
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next chapter?
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We’re going to break down together what’s really going on?
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Who’s benefiting if it’s not you and get to the truth so that you can take action?
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Hi, everyone.
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I’m Taylor Kenny with item trading breaking down
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complex financial topics so we can learn and grow together.
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There has never been a greater concern for how to protect yourself
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during retirement, especially with so many people realizing
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that the tools that have been made available to them have failed.
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If you want to live the American dream and as part of that, retire comfortably,
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it is becoming a greater challenge every day.
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It is crucial for your financial future to understand the value
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of the declining dollar combined with the retirement tools
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such as for one case that are making Wall Street richer.
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IRAs with high counterparty risk and an almost defunded Social Security
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so that you can make the most educated decisions to protect yourself
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at this pivotal moment in time.
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You might be shocked to learn that the 401k was never created
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for you or the average American worker with retirement in mind.
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It actually originated as a one off small tax break for rich executives
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that grew because of the benefit it provided to companies.
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There was never a committee or decision
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making process about how to support Americans retirement,
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and if there was, I’m sure it would look a whole lot different than it does today,
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because the reality is, is that we’ve all been sold a lie.
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For one, K’s were never intended to be an American’s
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golden ticket to retirement and in fact they benefit many people.
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But you might not be one of them.
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Imagine Wall Street’s delight when they discovered that they could
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take money out of your paycheck with you blindly trusting them,
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putting it on autopilot before this money even ever touched your hands.
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You can almost hear the champagne corks popping in the background.
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If you think about it,
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it has never been easier to take money from unsuspecting Americans.
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Never has there been a financial tool where you invested,
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regardless of the price, the economy, the fees?
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Nothing else like it exists at no risk.
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All reward to Wall Street while you pay the price, literally.
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Most people aren’t even aware that therefore one case
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actually cost them anything.
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And if you are one of them, don’t feel bad because it’s set up that way.
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We all understand compounding interest.
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The more money you put in the earlier you put it in,
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the more money you stand to gain over a long period of time.
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That basic math, it’s something that they make sure that you’re well aware of.
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And every 41k meeting since the program launched.
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But there is something they don’t talk about very much,
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which is compounding costs.
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And there’s a reason why your 41k fees typically range
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anywhere from half a percent to 3% on average.
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Most of the time these fees are hidden and hard to find.
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If someone does happen
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to find them, it’s easy to brush them off and say, well, it’s not that much.
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But that could not be further from the truth.
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Let’s do a quick example together.
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A 20 year old has $1,000 that they put into a41k,
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assuming that there will be an 8% rate of return year over year in 65 years.
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When that 20 year old is 85, that $1,000 investment
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is going to be worth a $150,000.
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Pretty impressive, right? Not so fast.
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Now, let’s look at that same example.
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But assume that instead of compounding at 8%, it’s
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actually compounding at five and a half percent
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because they’re taking out two and a half percent of fees.
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Not that much. Right?
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Wrong.
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Over the same amount of time that $150,000
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is now worth $30,000.
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These fees are eating people alive and they don’t even realize it.
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The data shows that the median amount saved in a 65 and older for one
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K in America is $80,000, $80,000 in Social Security.
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Do you really think that that’s something you’re going to be able to live on?
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You have been told a pack of lies.
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Now, I would never tell someone
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what they should do with their 41k or what’s best for them personally.
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But there is something I challenge you to do, and that is to go
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to the money manager of your 41k and ask them
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Why isn’t my balance larger?
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Why don’t I have more money in here?
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And I bet you that they’re going to say that it’s
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because you haven’t done enough, that it’s your fault.
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You didn’t put in enough money.
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You didn’t put in enough money early enough.
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And in fact, you should probably give them more money right now.
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They will blame you every single time.
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And our government is in on this, too.
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They even went as far as to create automatic for one
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k enrollment in 2006 with the Pension Protection Act.
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So instead of having to
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opt into this retirement option, you now actually have to opt out.
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Making you feel like if you chose that this wasn’t the right tool for you,
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that you were somehow
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sacrificing your financial future and it benefits the government.
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Because in that case, if you don’t have enough money to retire and survive,
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it’s your fault, not ours.
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And of course, the government loves it because they still collect taxes
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on for one case.
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Tax deferred is the biggest scam of all.
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Their greatest fear is having people protect their wealth outside of the system
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in something like physical gold, physical, silver, things that they can’t control.
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You get out from under their thumb.
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That is their greatest fear.
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But what impacts you the most at the end of the day,
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isn’t government greed or Wall Street or even hidden fees.
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No, it is the loss of your purchasing power.
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I just use an example of $1,000 return on
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41k investment over a period of time, with and without fees.
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But the most criminal part of all of this is that it doesn’t even matter
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because the dollar is worth so much less than whatever
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it is when you save it or when you go to cash it out.
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65 years ago, the dollar was worth ten times what it is today
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65 years ago, $100,000 was worth over $1,000,000 today.
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So at the end of the day,
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that’s the most important component because it’s a losing game.
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If the actual value of the dollar is declining,
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which is why more and more people are waking up and realizing
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that any asset that is tied to the fiat currency of the U.S.
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dollar is running a serious risk, whether that’s the stock market or anything else.
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You are going to be running a risk.
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That’s why I ask you right now, do you have control over your retirement?
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Can you say with certainty that there is no counterparty risk?
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Because purchasing power aside, almost everything still carries
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significant counterparty risk, whether it’s banks failing,
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the government unable to repay its bondholders.
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Some other counterparty in the stock market failing to uphold their obligation.
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The list goes on and on.
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This also applies to IRAs, even gold IRAs, which I get asked about all the time.
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Now, of course, it’s terrific to diversify your portfolio.
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And it’s no secret
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that I think everyone should own gold because it is the true money.
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But that being said, there is a huge difference
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between a gold IRA and physical, tangible gold,
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primarily being the fact that there is still a counterparty.
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Any time you have a custodian who is handling your money
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in charge of storage charging you a fee, you have a risk.
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When you have physical, tangible gold in your possession.
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It’s just you.
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There’s no counterparty, therefore there’s no counterparty risk.
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You have to make a decision that’s best for you.
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But first and foremost, I want to make sure that everyone is educated
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thanks to abysmal monetary policy and government corruption
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that has let Wall Street run wild, we are now in a situation where we are
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forced to take control and take our power back into our own hands.
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Because if we don’t, what are we left with?
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A declining dollar?
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Social Security, the same Social Security
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whose trust fund is set to be depleted by 2033.
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That’s in the next ten years.
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And when that happens, benefits could be cut by 25%.
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To start, we know we have an aging population
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and those numbers are only going to get worse.
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We were sold a pack of lies that were built on a faulty foundation
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from the start.
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We have this belief that we’re owed these things and it makes sense.
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It’s been drilled into our heads that if we work hard,
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if we contribute to Social Security, if we put money into our 41k.
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From a really early age, if we make smart decisions,
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then we will be able to arrive at the Promised Land,
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the American dream of retirement, and cruise into the sunset.
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But the reality is it’s happening for so many millions of Americans
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is that they are waking up,
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crunching the numbers and realizing that they don’t have enough.
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Or what they do have is rapidly disappearing in front of their very eyes
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because the value of the dollar is just not there.
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I know this is a lot to take in, but if even once during this video
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you paused yourself and thought, that could be me,
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or maybe that’s something I should look into.
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It is not too late to get a strategy in place.
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I urge you, whether you’re looking at that next chapter in 20 years, two years,
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or you’re already there and you want to make sure
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that your future family is protected and set up for success.
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Then click the link in the description below
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and get a strategy in place today.
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It is not too late.
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Thank you all so much.
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I’m Taylor Kenny with ITM trading breaking down complex
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financial topics so we can learn and grow together.
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If any of this was beneficial for you, please like share subscribe.
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It helped so much and I know that we are not alone in this,
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so it really helps to get the message out there.
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I appreciate all of you so much.
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Until next time.
https://www.cnbc.com/2017/01/04/a-brief-history-of-the-401k-which-changed-how-americans-retire.html
https://www.washingtonpost.com/business/2023/04/07/social-security-shortfall-impact/
https://www.cnbc.com/select/average-401k-balance-of-americans-in-50s-and-60s/
https://www.cnn.com/2023/06/21/investing/premarket-stocks-trading/index.html
https://retirementlc.com/automatic-enrollment-and-governmental-457b-plans/
https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
https://fred.stlouisfed.org/series/CUUR0000SA0R
https://www.npr.org/2023/03/31/1167378958/social-security-medicare-entitlement-programs-budget
