The War for Your Retirement

Open an IRA, Start Saving NOW

Written by Nick Hodge
Posted May 15, 2013

So the IRS has been targeting liberty-minded groups, giving “additional scrutiny” to their tax documents.

The scandal went all the way to the top, and has been going on for years...

Bloomberg has been caught snooping on thousands of Wall Street clients who use its terminals for sensitive financial information. Bloomberg has had access to the data since the 1990s and was tracking login patterns, search history, and what information was being viewed by bankers and traders who pay $20,000 per year for the service.

The Department of Justice was caught this week “secretly obtaining” months' worth of telephone calls from reporters at The Associated Press. What the media is calling “secretly obtaining” you should know as illegal government intrusion.

Yes, the system is broken. The thugs of corporatocracy currently reign. And lately, I've spent many words exposing it, showing you how the system works, and generally griping about the unfortunate state our nation — and most of the world — finds itself in.

But that will only get you so far.

It's one thing to be aware of the seedy underbelly of Wall Street and Washington, but it's another to let it consume you... especially if your own house isn't in order.

What's the point of worrying about Washington stealing your retirement, for example, if you have no retirement to save?

Here at the Outsider Club, my goal will be to point out the sinister plots embedded in the system, but also to get you involved in planning and managing your own finances.

Being on the outside isn't just about recognizing the pitfalls of the inside — but going to financial war against them.

War Drums

You see, a financial war is brewing...

Some battles — LIBOR, precious metal manipulation, Cyprus, QE — are already being fought.

So far, common folk have by and large been spared severe economic pain. The can has been kicked just far enough down the road to placate the masses, to lull them back into complacency, and to make them temporarily forget about the grim financial future they face.

But that can full of public and private debt, fiat money, and disappearing pensions and Social Security is coming back into view.

Regular folks like you are starting to realize their chance at financial freedom keeps disappearing further into the future, if it hasn't already completely disappeared.

In 1950, each retiree's Social Security was paid for by 16 workers. Today it's down to 3.3. Many of you reading this — myself included — will never see a dime of the thousands they've paid into that system. Quite frankly, I don't even consider it when making financial plans.

And here are five more frightening financial statistics:

  • 46% of Americans have less than $10,000 saved for retirement

  • 29% of American workers have less than $1,000 saved

  • 40% of baby boomers plan to work “until they drop”

  • 36% of Americans don't contribute anything to retirement

  • 46% of adults say they are “extremely” or “very” concerned about having enough money to retire

Twenty years ago, the average American planned to retire at age 60. Ten years ago it was 63. Today it's 67.

From what I see, many of them won't ever be able to retire.

And isn't that the point of all this? To be able to do whatever you want without being a wage slave? I mean, what else are we all chasing?

Millions are now waking up to realize they've been sentenced to a life of 9 to 5 with nothing to show for it but significant outstanding principal on their mortgage.

No one's going to tell you to start saving. No one's going to tell you to ditch the high-fee advisors and mutual funds. No one's going to tell you that you can take your finances into your own hands and generate secure growth and income all by yourself.

(Ok, I'll tell you. And I just did.)

Firing the First Shot

Whenever I discuss this with people, including friends and family, they always tell me the same things. “I don't have time.” “I don't understand stocks.” “I'm afraid of losing money.”

None of these are reasons not to get started.

You can set up and fund an individual retirement account (IRA) in less than an hour. And you can buy a few stocks or funds in minutes.

You don't have to understand stocks. You can buy what you know to start. Surely you buy gas... why not buy Exxon (NYSE: XOM)? Surely you enjoy hamburgers, why not buy McDonald's (NYSE: MCD)? Each of these companies are paying around 3% dividends, by the way.

Then you can branch out to exchange-traded funds (ETFs) that allow you to buy entire sectors or indexes, and give you the chance to use the same strategies Wall Street would like you to pay them for.

And while losing money is always possible, it's not probable over the long term. Stocks can drop 50% in any one year, but over 50 years they almost always do better than other investments.

So you have to get started today. The first thing to do is open up an Individual Retirement Account (IRA) if you don't have one. You can put $6,000 per year in one if you're over 50 and $5,000 per year if you're under 50. Use this free resource to determine what kind of IRA is right for you.

You can do this through many financial institutions. I use Scottrade and Schwab, but there are many good choices out there.

If you already have an IRA, put extra funds — as much as you can spare — in a standard brokerage account. This can be with the same institution as your IRA.

The only way to win the retirement war is to start fighting battles today. You can't do that if you don't have the necessary accounts, or aren't putting money away to invest...

Once you do, you can take advantage of the many opportunities I and my fellow editors spend so much time researching for you.

If you're in the process of planning or saving for retirement, you might be interested in our latest: a Congressionally-approved plan that allows you to generate tax-free income. All the details are in a report for you right here.

Nick Hodge

Nick Hodge for Outsider Club

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