Detroitís Bankruptcy is Putting Thousands of Pensioners at Risk of Losing 70% of Their Pension Income or More
The 40 year old financial strategy of funding 401kís while borrowing from banks at low interest rates has proven very flawed. Americans retirement plans are on life support.
Detroit, Michigan, USA - With all the news about Detroit being the largest municipal bankruptcy in the nationís history the spotlight is being shown on the nationís retirement and pension systems.† It is now becoming apparent that Detroit is not the only municipality experiencing financial difficulties.† Detroit may only be the first domino to†fall with this latest financial crisis.
Many stories are now coming to light about the over funded liabilities in Chicago and dozens of cities in California.† Many people who believed they were going to have a pension in their retirement years are now wondering if that money is safe. People need solid and stable income to be able to retire and live a decent lifestyle.††
Even people who donít have a pension but contribute to a 401k (the most popular and common form of saving and investing for retirement) are worried about being able to secure their money and if it will provide enough income for them to actually retire some day.
ďPeople who are saving for retirement donít even realize they have different options than the traditional 401k or public pension,Ē said John Jamieson founder of Perpetual Wealth Systems and author of the number 1 bestselling book ďThe Perpetual Wealth SystemĒ (www.theperpetualwealthsystem.com) published by Morgan James Publishing.†
Jamieson is the founder of www.perpetualpensions.com and educates people from all over the country that they have different option available to them to secure a solid retirement and in fact can create their own private pension program.†
National statistics prove that people are not even close to being ready for retirement and even younger people are way behind if they want a chance to really enjoy their later years and have options.
The free website www.theperpetualwealthsystem.com is dedicated to showing thousands of families how to fix this broken business model and create tax free generational wealth.† The site is loaded with free videos and training.
- Contact Information
- John Jamieson
- Perpetual Wealth Systems
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