Twenty One Percent of People Who Retire Are Forced Back to Work From Financial Need Within Five Years of Retirement

A new study by former Price Waterouse CPA and bestselling author Jim Trippon, shows more retired Americans are being forced back to work from financial need. Trippon's new book "How Millionaires Stay Rich Forever" identifies the causes and provides practical solutions.

Houston, TX (PRWEB) December 20, 2004 -- According to financial author and retirement planning expert Jim Trippon, Twenty One Percent of people who retire are forced back to work from financial need within five years of retirement." In conducting research for his retirement planning book How Millionaires Stay Rich Forever, Trippon identified nine causes for post-retirement financial problems and offers solutions. "Many people assume that the only thing that affects their retirement security is their choice of investments." says Trippon. "In fact there are nine pitfalls to watch out for and investing is only one of them." Take for example the impact of post-retirement lawsuits like the Moldon case, which is told in Trippons new book. (Case # A344462 Nevada State District Court -- Clark County, Nevada - Department III)

Billionaire Carl Icahn wants to build a luxury casino tower on retiree Paul Moldons rental property in Las Vegas. The City of Las Vegas Redevelopment Agency seized the prime property, which is located next to the Stratosphere Casino monorail stop, without compensation from Moldon in 1995. A court is set to decide the ten year old case shortly before Christmas. Moldons property is valued upwards of $12 million, but the City has taken Moldon to court to force a sale to the City for an artificially low price of less than $800,000. The windfall purchase price, which is $11.2 million below the property's estimated fair market value would be passed along to Billionaire Icahn, according to disclosures made by the City in court. After ten years of litigation, Moldon has yet to see a dime in compensation. Trippon says "Although the Moldon case is an extreme example of how litigation can ruin one's retirement the eight other pitfalls are just as dangerous."

Jim Trippon CPA, a former senior Price Waterhouse financial statement auditor, runs a retirement planning firm in Houston, Texas that specializes in working with accredited investors. He has appeared on CNBC and Fox News, and is often quoted in national publications. How Millionaires Stay Rich Forever: Retirement Planning Secrets of Millionaires and How They Can Work For You by Jim Trippon, CPA; ISBN: 0-9723389-1-8

Media kits and review copies available on request. Jim Trippon is available throught the holidays for interviews. To arrange an interview call Beth O'Neal at 713-661-3806, or contact Jim Trippon directly at 713-498-8849.

###