Posted on February 11, 2023

According to recent studies, 95% of people in our society will reach the age of 65 either dead, broke, or financially dependent on others. This is a sobering statistic, and one that highlights the importance of proper financial planning. While it's natural to want to enjoy the present moment, it's also critical to think about our long-term financial security and plan for the future.

The first group of people, those who die before they reach retirement age, might have been caught off guard by unexpected expenses, health problems, or other life events that drained their savings. This group of people may have had the best intentions, but they simply didn't have enough time to build a solid financial foundation for the future.

The second group, those who reach 65 and are broke, might have lived beyond their means, made poor investment decisions, or not saved enough money for retirement. This group of people may have fallen victim to the temptation to spend too much money in their youth, without fully considering the long-term impact of their choices.

The third group, those who are financially dependent on others, might have been hit hard by the recent economic downturn, been unable to save enough for retirement, or not had access to the resources and guidance necessary to make informed financial decisions. This group of people may have fallen victim to the economic and systemic issues that have plagued our society for decades.

Regardless of which group people fall into, the common thread is a lack of proper financial planning and preparation. The good news is, it's never too late to start planning for your financial future. It's essential to have a clear understanding of your income and expenses, as well as a plan in place to save and invest for the future. This might mean working with a financial advisor, creating a budget, or seeking out resources and education to help you make informed decisions.

It's also essential to think about the future and plan for unexpected expenses, such as medical bills or home repairs. Having a solid emergency fund in place can provide a safety net in the event of unexpected expenses. Additionally, it's important to consider life insurance and other types of insurance to protect your assets and ensure that your family is taken care of if something unexpected occurs.

In conclusion, while the statistic of 95% of people reaching 65 either dead, broke, or financially dependent on others is a sobering one, it's also a call to action. By taking steps to plan for the future and secure our financial foundation, we can help ensure that we're able to live a comfortable and secure retirement, free from financial stress and worry.

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