The Color of Money

Are You Ready for Retirement? Here’s the Reality Check Most People Need

The Wake-Up Call

Here’s what recent studies tell us about retirement in America:

  • 1 in 4 Americans has saved nothing for retirement
  • Another 25% have less than $10,000 saved
  • More than half of all workers have less than $1,000 in retirement savings

If these numbers seem shocking, you’re not alone. But here’s the important question: Where do you stand?

Quick Self-Check: Are You On Track?

1. The Simple Math Test

Financial experts use a basic rule: Multiply your desired annual retirement income by 25.

Example: If you want $50,000 per year in retirement, you’ll need about $1.25 million saved.

Why 25? This assumes you can safely withdraw 4% of your savings each year without running out of money.

If your current savings fall short, you have three options:

  • Save more money now
  • Plan to work longer
  • Find ways to make your money grow faster

2. The Social Security Reality

The average Social Security check is about $1,800 per month. That typically replaces only 40% of what you earned while working.

The problem? Most people need 70-80% of their working income to maintain their lifestyle in retirement.

That means you’ll need other sources of income:

  • Your personal savings
  • A pension (if you’re fortunate enough to have one)
  • Part-time work (but is that really how you want to spend retirement?)

3. The Inflation Challenge

Money loses value over time. At just 3% inflation, $1 million today will only buy what $500,000 buys in 20 years.

The question: Are your savings growing fast enough to keep up with rising costs?

Three Warning Signs You Might Be Behind

🚨 You’ve Never Calculated Your “Retirement Number”

Without knowing how much you need, it’s impossible to know if you’re saving enough.

🚨 Most of Your Savings Sits in Cash

While cash feels safe, it actually loses 2-3% of its buying power each year to inflation.

🚨 Your Plan is “I’ll Just Work Longer”

Here’s the harsh reality: 40% of retirees are forced to stop working earlier than planned due to health problems, job loss, or family caregiving needs.

Success Story: How Linda Retired at 62 (Even Though She Started Late)

Linda’s Challenge:

  • Age 58, only $90,000 saved for retirement
  • No pension as a public school teacher
  • Feared working until age 70

Our Solution:

  • Maximized her Social Security by waiting until age 67, increasing her monthly benefit by $1,200
  • Created a tax-smart savings plan that reduced her current taxes while growing her retirement fund
  • Moved her money from cash into smart investments that could keep up with inflation
  • Planned for healthcare costs with a Medicare strategy that saved her $3,500 annually

The Results:

  • Retired comfortably at age 62
  • Receives $3,400 per month in guaranteed income
  • Her savings grew to $220,000 in just 4 years
  • Now enjoys time with grandchildren and volunteer work

“I thought I’d be teaching forever. Grove Financial gave me my freedom back!” – Linda R.

Your Next Step: Get a Clear Picture of Where You Stand

At Grove Financial Group Inc., we help people like you:

  • Calculate exactly how much you need for the retirement you want
  • Create a realistic plan to reach your goals (even if you’re starting late)
  • Protect your savings from inflation, market downturns, and healthcare costs

Ready to see where you stand? Let’s start with a free, no-pressure conversation about your retirement goals.

[Get Your Free Retirement Assessment]

Remember: The best time to start planning was years ago. The second-best time is today.