Savings2Income Comments on an Article Regarding How Retirement Planning is Ailing Due to Health Insurance Costs

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Following an article about how retirement planning is being affected by the increase of health insurance costs, Savings2Income offers its comments.

On January 15, 2013, Savings2Income comments on a Millionaire Corner article by Donald Liebenson entitled, “Retirement Planning Ailing Due to Health Insurance Costs, Business Owners Say”, regarding the rise in the cost of health insurance.

According to the Millionaire Corner article, “Seven-in-ten American business owners consider rising health care costs as the primary threat to their current or future retirement, according to a new Millionaire Corner survey of 1,100 investors.”

The article states that over the last 25 years, the cost of health insurance has been a top problem for small businesses. The article also informs that health insurance costs within the last ten years have outpaced wages and inflation by 103 percent.

According to the article, “Half (49 percent) of business owners surveyed by Millionaire Corner cite inflation as the major threat to their current or future retirement, inevitably followed by taxes (47 percent).”

The Millionaire Corner reports that just about one-fourth of those people believe they will have to postpone their retirement and the article cites, “A Wall Street Journal study conducted last August found that nearly half of the 799 small-business surveyed expect to retire after age 65.”

Developer of Savings2Income, Jerry Golden, offered his thoughts and concerns about the retirement planning results in the survey. “We agree that current health care costs can put pressure on retirement savings. While we can’t control those costs, what we can do is a better job with the amount saved for retirement.

“We can control investment costs; we can control taxes; and, we can control risk assumption. So we can help these business owners, and anyone else in having dependable, spendable retirement income that lasts a lifetime,” Golden says.

An innovative retirement planning method called Savings2Income (S2I) created by Jerry Golden seeks to provide a clear path to retirement security for those saving for retirement, soon to retire, and recently retired. S2I incorporates Rollover IRA savings, personal retirement savings held outside an IRA or 401(k) plan and Social Security into an integrated solution.

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Chris Spring

John Mulqueen
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