By definition an Income Security and Protection Plan must protect your income at all times.

It doesn't matter if you are already working in your own business or at a job, or retired. The plan is totally independent of you present income, regardless of its source.

The Plan must provide a certain level of income for you, even if your business isn't providing sufficient income, your job disappears, or for whatever reason you are no longer able to work.

The additional requirement of the plan is that it requires virtually no time to implement, nor does it have a high cost to initiate.

If government pension programs are in jeopardy,
from where will you receive your retired income?

You no doubt have heard or read the alarming information, that the public fund for old age security is not growing fast enough to take care of the aging population. Inflation is making it more and more difficult to live on the amount that can be paid out. Governments around the world are defaulting on their loans and borrowing more money to keep afloat.

Will the public funds to which you contributed, collapse before you can collect? Will the age at which you can collect your pension be raised from 60 to 65 to 70 or 75, to keep costs down? And will your age simple be under the cut off line, as you age?

These are all legitimate questions. As the baby boomers begin to reach retirement age, coupled with the fact that people are living longer, puts even greater pressure on pension funding.

There is also a concern for private company pensions. How many will collapse or misappropriate the pension funds during economic hard times, before you are able to collect. This has already happened to many retirees.

The younger you are, the greater the likelihood that the pensions funds will not be there when you need them. Adults of all ages should begin to look into arranging their own pension programs. Small business owners seldom have sufficient cash or incentive to provide sufficient pension income protection.

Is your pension a ticking time bomb?

The problem is that many people do not have a good safe private pension, don't have much in savings, and are not able to keep on working regardless of age, and have legitimate concerns about their company or even government pension. Many will find it very difficult in their retirement age, unless they are proactive and act now.

First, the steelmakers reneged on their pensions. Then the airlines. Remember how parts-maker Delphi dealt with bankruptcy, and the thousands of employees and retirees Delphi cast aside in the name of rescuing the US auto industry. Could your company be next?

Many are warning that the automakers will be at some time, walk away from their promises to pay a monthly stipend to retirees. How many thousands will that affect? Earlier this year, those concerns seems very real and fortunately it didn't happen, but is it just a postponement?

An unstable economy is leading many to cash in their pensions early. Should you? If you did, what would you do with the money that is safer and provides for you in your retirement age?

What could possibly be safer than even the most promising solid corporation, that is to be your pension when you retire? Thinking it can't happen is like sticking your head in the sand.

Imagine the strength of a few hundred independent people bonded by a common cause and goal. It is the same strength that is exhibited by a school of herrings swimming into a huge rotating ball in the ocean, to confuse and protect themselves when being attacked by a predator.

Individually the herring is a sitting duck, but as an organized team they create their own safety.

Building an asset of a few hundred people working together creates great income security and when positioned correctly, is safer that the largest company or government pension. So why not have both, a good corporate or government pension plus the added security of a personal income protection program.

The Retirement Reality is Setting In.

When asked to describe their current financial outlook in terms of a reality TV scenario, survey respondents chose shows like "Survivor," "Amazing Race," "The Apprentice," "Fear Factor," and "Lost" to best describe their situations.

Small business owners are often preoccupied with immediate financial problems or procrastinate because financial planning sounds cumbersome, complicated and time consuming when it doesn't have to be.

Reality is beginning to set in and changing circumstances are causing many small business owners to reconsider their retirement age. An overwhelming majority of those changing their plans are delaying their retirement date because they need more savings and are concerned about rising healthcare costs.

Unfortunately, many are in for a rude awakening. In reality many people don't have a choice regarding retirement. An estimated. 40 percent of today's retirees had to stop working earlier than they had planned, primarily due illness or injury. The average age when current retirees are forced to exit the workforce is just 59. That may leave a lot of living without a salary. Are you prepared?

Small Business Owners Are Increasingly Uncertain About Retirement.

Small business owners often fail to apply their business and financial skills to their own finances. A recent KeyBank survey found that while small business owners have confidence in their financial planning abilities, most pay little attention to personal matters, especially retirement planning. As a result, small business owners are increasingly uncertain about when or whether they will officially retire.

The survey, conducted by Zogby International, shows that small business owners are living contradictions when it comes to finances and retirement. Of those surveyed, 78 percent say retirement planning should be considered by age 30 and almost half say they have their plans set and on track. However, 67 percent believe they will, or could, run out of money in their lifetime.

"There's conflicted confidence in what small business owners say they are doing and what they actually are doing," says Marc Vosen, president of Key Investment Services. "Consequently there's real concern about how financially prepared they are for retirement. While they know what it takes to be in control, many have a laissez-faire attitude when it comes to managing their money."

What if suddenly something happened that you couldn't work.

If you work for a large corporation or the government you likely have sick benefits for a period of time or maybe even long term disability benefits.

But what about the entrepreneur and the self employed? What about contract workers or the part time worker? Do you fall into this category? What can they expect? Would your business survive without you at the helm?

Not being able to work is a common scary thought. Most people, at some time in their life wake up worrying about either money or health.

What about your family, will you be able to care of them? What about you house, could you lose it? Of course that will never happen to you - right?

You can stick your head in the sand,
but that usually leaves the other end exposed.
One day you may be bitten.

Reality Pension Q&A, Please click here..

Suppose there was a way to be protected.

For example, one can build an asset (apart from your business, or job) that provides an income now, if you can't work, as well as when you retire.

Your first reaction is, that you are too busy building your business or working too many hours at your job, to put energy into anything else and you simply can't afford to put enough money into any insurance program that would be adequate.

However, one must face reality, not being able to work could happen to anyone. Let's look at the two extremes.

First let's assume you will live to 110 in perfect health and are able to work and create an income. Next look at the other extreme, what if you were in a car accident tomorrow and couldn't work for the next 10 years.

If you had an asset that provided an income, whether you are working or not, in the first scenario you would have a lot of extra cash to spend as you wish.

In the second scenario, your special asset could provide the necessary income to provide for your family, pay your mortgage and other necessary life's necessities. If you had built an income protection asset, you would be a winner in both cases. No downside..

The Power of Two Income Security plan can build an asset the equivalent of $500,000 cash (or more) invested at 10% that would provide an annual income of at least $50,000.

Which do you think could most likely to happen for you in the next two years. Building an asset equivalent to $500,000 using the Power of Two Income Security plan or save $500,000 to invest.

How much is peace of mind and income security worth to you?
Is it worth a few hours of your time to thoroughly investigate the plan?

Just a few examples of what an Income Security Plan can Provide.

 

 

It may be used to provide a Pension Plan that pays for itself.  Many people today do not have a company pension plan. Nor do they have their own private plan, primarily because there isn't enough cash at the end of the month to create one, so that they will have a decent income when retiring. However, there is a way.

 

 

It may be used to eliminate your mortgage or rent payments. Imagine how it would feel if you had a means that would make it seem that your mortgage or rent payments disappeared. What would you do with the extra money you would have you didn't have to make the payments out of your regular income? However, there is a way that it can be done. 

It may be used as a sickness or disability benefit plan. What would happen if you unfortunately were in a car accident, or unexpectedly became ill and had to be in a hospital? How long would your company survive without you? Does the company you work for have a long term disability plan?

Building your very own Income Protection Asset
and a Pension Plan that pays for itself.

The key to having Income Protection relies on having an independent portable asset, that when built provides a steady income regardless of your income earning ability in your day to day life.

Such an asset has a component called residual income. This independent portable asset, can be created by the Power of Two.

Using the Power of Two to build a income asset consisting of hundreds of like minded people, is very different. It does not mean you have to abandon your existing business, nor does it mean giving up your job. Nor does it mean you need a large investment of time or money.

 

On the other hand if you don't have an existing income, the Power of Two plan can still be used to build your asset and create an income now.

It is interesting to note that a recent Lou Harris pole shows that at some time in their life, 96% of all people lay awake at night worrying about either health or finances.

Polls also show that "time freedom" is the number one thing, after good health and love, that people want more of in their lives.

Financial and Time Freedom are tightly interwoven with
income security or protection and are considered more important than riches.

Financial freedom can be defined as not having concerns about money. One should have sufficient money so it is not a dominating force in making decisions in your personal or professional life.

Time freedom, on the other hand, means that you have income protection so that you have the time to pursue those things that are most important in your life.

In short, income protection allows you to pursue your dreams.

The asset building model that I use to have my income protection, is based on The Power of Two, a completely novel approach to residual income, asset building.

 

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"Power of Two" asset building model information.

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Author's Contact information.

 

Robert Rempel PhD

Victoria, BC

mentor@theprogroup.org

250 474-4776