The other day I ran across some eyebrow-raising financial trivia. There’s a takeaway that should be encouraging for everyone who already own property in West Palm Beach.
The undeniable value of home ownership is pretty clear when you take a look at some of these financial facts —
According to the Employee Benefit Research Institute, 56% of workers report that they haven’t even attempted> to calculate how much money they will need for a comfortable retirement. That should get them thinking (although it looks like it hasn’t). If the Center for Retirement Research is right that only 42% of private sector workers have any retirement savings at all, it might explain why they don’t want to think about it.
I believe we can safely ignore Fidelity Investments’ finding that a 65-year-old couple retiring last year would require an estimated $240,000 for retirement medical expenses. Not that they will require more or less, but with the Affordable Care Act currently being eyed suspiciously by politicians in both parties, who knows how much (or what proportion) of care will be provided by…who knows?
On the brighter side, a certain degree of realism seems to have crept into the general populace. That is, if the Employee Benefit Research Institute is right that only 14% of American workers are very confident they will have enough money to live ‘comfortably’ in retirement. It’s undoubtedly why more and more Americans are planning on working well past the former retirement age.
What you can deduce from these facts is how much brighter your own future is if you have owned your own West Palm Beach property for a while. Owning your property free and clear puts that shelter expense money back in your pocket. From the moment you make the final mortgage payment, the likelihood of having a ‘comfortable’ retirement goes up dramatically.
It’s why the American Dream of owning property is such a great wealth-building tool: one that forces long-term saving regardless of how daily living pulls in the opposite direction. If you haven’t started building your own property ownership yet, I’m here to show you how to make it happen!
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