Saving for Retirement – Will You Have Enough?

3 Little-Known Factors That Could Affect Your Saving for Retirement

Saving for retirement I don’t want to be the one that bursts your bubble, but even as we are saving for retirement, the plain fact of the matter is that many of us will be working until the day we die. I can hear gasps of disbelief, and yes, some are laughing at this silly notion.

We see the stock market at record highs, and even this fragile economy is showing some signs of recovery. So why the doom and gloom comment? I’ve been planning for retirement for a few years now, and have some money put away, so isn’t my retirement safe?

I wish that I could say yes, but there are many outside factors that come into play. The first problem is the social security system that our lawmakers have made a mess of. This system was set up to provide retirement benefits for workers that paid into it. Now, it is practically bankrupt because funds are paid out in benefits that have nothing to do with retirement.

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New Health Care Law – 7 New Taxes

7 New Taxes or Fees To Cover New Health Care Law

New health care lawBeginning in 2014, the expanded coverage for Obamacare under the new health care law will essentially kick in and approximately thirty million (30 million)  individuals who have no medical insurance will be brought into the fold. When this expanded coverage begins, insurance companies will have to accept all applicants, regardless of their medical condition. No one can be declined.

In addition to this, just about every American citizen will have to be covered by medical insurance. They will essentially have three choices – receive coverage through their employer – receive coverage from a government program – or purchase medical insurance on their own.

The new health care law won’t require most individuals to remit additional funds to the Internal Revenue Service; however, the approximately two percent of Americans who are considered wealthy, will get hit the hardest, starting in 2013.

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