Many of us grew with our parents, teachers and elders telling us to
“go to school, get good grades and get a safe secure job.”
That plan used to work in an age where a person would stay with a company for 40 years and have retire on that companies pension plan.
Now more than ever, people are changing jobs more frequently. According to about.com the average person changes jobs 11 times.
With that many job changes, a person has a difficult time building company senority and better retirement benefits.
Many companies pension plans go bankrupt and leave their employees with not enough money to retire on.
Most companies don’t even offer a pension plan and but put the retirement burden on the employee in the form of 401k in the US and RRSPs (or otherwise) in Canada.
The “go to school, get good grades and get safe secure job” plan no longer works and many people are finding out the hard way.
“It’s not the strongest who survive, nor the most intelligent, but the ones most adaptable to
change.” Charles Darwin
Our older population is unable to retire because they can’t support themselves with out working.
Our new university graduates are unemployed or underemployed.
These statistics are scary but they are also the truth. 95% of todays 65 year olds are dead or they are dead broke. 4% go on to be financially independant and only 1% make it.
The Rules have changed. Are you willing to play by the new rules?