I love this quote from an article in The Atlantic by Joe Pinsker:
If we give people a totally garbage system and then make them feel bad about not having succeeded in it, that’s just so saddening.
Most Americans rely on their 401(k) plan for retirement. The problems with this reliance are profound.
Pinsker references studies showing most people are bad at saving for the future. Dumping the burden on them to intelligently invest what they do manage to save is fundamentally flawed.
This combination is the perfect storm for the retirement tsunami many will face as they approach retirement.
Sad state of affairs
You can easily become depressed reading this study from the longevity institute at Stanford University.
Here’s a key finding: Based on our analysis of retirement savings from every source we examined, the vast majority of American workers of any age will be unable to replicate and maintain their standard of living if they retire fully from working at age 65.
Pinsker notes that one-third of Baby Boomers have no money saved in retirement plans (as of 2014). The middle class is no doubt overrepresented in this category.
Einstein was right
Einstein’s definition of insanity is correct. It makes no sense to believe telling employees to start saving earlier, save more and invest intelligently in their retirement plan at work will yield a different result.
That’s why we created MAP.
Our goal is to combine the collective resources of thousands of advisors and insurance professionals nationwide, and to work with highly rated insurance companies.
These advisors and agents will publicize MAP on their webpages and in their social media. They will tell their clients how important it is for their children to implement MAP (assuming it’s suitable for them) as early in their careers as possible.
MAP minimizes reliance on the stock market and incentivizes systematic savings. It lessens reliance on employer sponsored retirement plans. Instead, it relies on a specialized cash value life insurance policy and a particular type of deferred income annuity. It’s easy to understand and to implement. It’s a glide path to a reliable stream of income in retirement, with the added benefit of protecting them and their loved ones in case of premature death.
MAP is different. It’s a game-changer. It works.
We set the bar high. We want to solve the retirement crisis for middle class Americans, so the next generation won’t repeat the mistakes made by their parents.
If you’re a financial advisor who’s a fiduciary, or an insurance professional, sign-up to be a resource for those who want to implement MAP. It’s free.
If you’re an insurance company who wants to work with MAP advisors and agents, contact us.
Together, we can make a difference.
A real difference.