Three world leaders walk into a bar… The first leader proudly states: “My nation has one of the narrowest gaps in income inequality.”
Another says: “No one can compete with my nation when it comes to maintaining full employment.”
And the last one speaks up and boastingly says: “Well, my country turns retirees into the government’s ATM machines.”
Not a bad three liner, but the real punchline is yet to come…
According to Natixis, a Paris-based investment company, that’s exactly how a conversation would go between three particular world leaders based on its recently released Global Retirement Index.
If you didn’t realize it, the third leader above was U.S. President Barack Obama boasting about the taxes he generates off of retirees.
While the other two leaders who boast minimal income inequality and low unemployment are Prime Minister Miro Cerar of Slovenia and monarch Emir Sheikh Tamim bin Hamad Al-Thani of Qatar, respectively.
And that’s still not the punchline.
The real punchline in the joke is that the U.S. actually has the same overall rating for standard of living in retirement years as Slovenia and Qatar. That’s right, it’s a tie.
I know, this shouldn’t be made into a laughing matter. But when our government gets it so ass-backwards that we end up being the 19th best nation to retire in and are tied with a small nation off the Adriatic Sea, and a tiny, oil-rich, Muslim nation with about as many residents as New Mexico, laughing can help ease the reality of our dismal retirement years to come.
With that said, it’s important for you to take retirement into your own hands to find prosperity.
Can It Be Done? You Bet
The truth is every one of us should already be doing this — make sure our retirement years are much less dependent on the government, and much more dependent on our own responsibility.
Many of you may be saying that’s nearly impossible to do in this day and age with increased costs.
But it can be done. Just look at the janitor who recently passed away after accumulating more than $8 million in personal wealth.
If you didn’t catch the story this past week, Ronald Read was a frugal man, who didn’t live an elaborate, greedy lifestyle. Instead, he lived a regular life, was always careful with his expenses and worked long after he could have retired extremely comfortably. Yet, he managed to accumulate millions to live off of before he decided to retire.
How’d he do it?
It was rather simple to be honest. He started saving and investing early. More specifically, he put his money to work in stable, blue-chip dividend paying stocks.
And he did his research, only buying stocks of the companies he knew.
These have been the bread and butter of middle-class wealth creation for decades — reinvesting dividends, holding blue-chip stocks, and buying what you know. His holdings included the likes of AT&T, Bank of America, GE and Deere … a couple of which frequent my Pure Income portfolio — which brings me to my point.
The simple strategies utilized by a janitor to amass $8 million in wealth, are the same strategies available today — only we have more tools to help you accumulate wealth quicker and in a more stable fashion.
Steady, Fast-Growing Retirement
Granted, Ronald Read had fortune on his side. He was able to save enough cash before moving into the stock market, and just happened to start investing right before the tech boom.
Today is a little different. Markets are trading at their highest prices ever, and amidst extreme volatility and the plummeting price of oil-related stocks, things aren’t looking so pretty.
Thankfully, we have a tool today that is widely used to offset volatility, and stabilize a portfolio.
It’s the exact reason I utilize a simple options strategy in Pure Income.
I focus on the same type of stocks the janitor did — General Electric, Microsoft, BP, CSX, Coke and other stable, blue-chip, dividend-paying stocks.
But by utilizing my options strategy, I am able to generate an even greater yield than the stocks currently pay out. Month after month, I can generate stable income to live off of in retirement years, or to create steady growth to build a retirement account.
Either way, there are plenty of ways for you to amass your millions this President’s Day — just look at the janitor who created $8 million in wealth by buying what he knew and collecting dividends.
And the next time you are wondering how to plan for retirement, just remember the conversations our president would have at the bar with other world leaders — don’t be the butt of his joke.
Editor, Pure Income