Bohemia, NY (PRWEB) March 01, 2013
On March 1, developer of Savings2Income, Jerry Golden, issues a statement in response to a New York Times article detailing the five stages of aggravation that accompanies retirement planning.
According to a New York Times article titled “The Five Stages of Retirement Planning Angst,” writer Paul Brown said that psychiatrist Elisabeth Kubler-Ross listed denial, anger, bargaining, depression and acceptance as the stages of grief people experience when they realize they are dying. Brown said that these stages are easily adapted to retirement planning.
Jerry Golden, developer of the retirement planning method Savings2Income said that many people are shocked to hear how much they need to save to solidify a comfortable retirement. “Most people find out too late that they need to save a few hundred thousand dollars at least to keep their heads above water when they retire,” he said. “It’s a lot of money that has to be used for things like medical bills and other expenses that come with being old.”
In the article, Brown said that he found out that he would have to save about eight times his annual income to cover the kind of retirement he wants. He also said that he was in denial after being informed of that figure, the first stage of Kubler-Ross’ grief theory. The denial transferred to anger as he tried to find someone to blame for inaccurate information.
Finally, Brown said in the article that he started to bargain with the retirement quote, by putting in 60 hours of work per week instead of the usual 40 and maybe just try to save 7.5 times his annual income. Upon realizing the severity of the situation, he said that he fell into a short depression, followed by the final realization that he needs to do what he can to save for retirement.
“It’s best to get started when you get your first job,” Golden said. “Brown should have been saving for most of his life, but like a lot of people, he didn’t really think of retirement back then. Now, he has a lot of money to save in a short amount of time.”
Golden said that he should create a plan for retirement income that can guarantee him spendable income through investments, Social Security and annuities. “There are plans out there which have a high probability of increasing your income,” he said. “He just needs to talk to a knowledgeable advisor who can help devise a plan for retirement income.”
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.