Morse Financial Services

Tax-Free Retirement Specialists

Are you Financially Independent?

There are many reasons why people don't become financially independent.

First, you have the cost of living. I'm sure you remember when gas prices first went up, then food went up, then gas came down a bit and now it's creeping back up?  Now when we look at our paycheck it does go up, but it never seems to go up at the same pace as inflation.

What that does is it puts a burden of debt on us because what we are is a society of people who don't like to wait. We want things right away, So what do we do?  Charge it. Years ago when we caught someone charging 18% - 24% interest on a loan we called them crooks. Now we call them banks. That gives us a lack of security because we aren't saving enough money for our future.

Most of us consider consider retirement age to be 65. Insurance companies say the mortality age is 100. They expect all of us to be dead by 100. Out of all the people who reach 65 and moving on down to 100, at what age do you think the majority of these people will end up hitting before they die? Back in 1933 when Social Security first started, the average life expectance was 62 for men and 65 for women. According to data compiled by the Social Security Administration, a man reaching age 65 today can expect to live, on average, until age 83. A woman, to age 85. That means that we should plan on having enough money to last us 20 years in retirement. How are you doing with that goal? That's the issue.

One frightening statistic from the Department of Commerce shows that out of 100 people reaching age 65 today, only about 4% are financialy independent. That means that 96 of them will be in one of three categories. The first category is you could be retired, but looking to the State for more income. Good luck with that! Most States are already broke.

The second category is that in your retirement you're moving back in with your adult kids, causing a lot of stress on both sides.

Now the third and largest of the three categories is that you are "retired," but still working. How old is that guy bagging groceries? Is that your grandmother scraping gum off the floor at a fast-food place?  Now some of them could be there because they want to be, but a lot of them are there simply because they have to be. Don't you become one of them!

Check out this video to see why it's important for us to get together.