In 2002, Jean Jocks signed a contract for lifetime care at a California nursing home. She paid $250,000 upfront, then $5,000 a month for 22 years. At 96 years old, she got a 3-day notice to pay $110,000 more or leave.
Her story isn’t rare, and it connects directly to something most retirees have never thought about: Social Security’s trust fund is projected to run dry in 6 to 8 years. Medicare and Medicaid are on the same timeline. And the average 401k return has quietly dropped from double digits to around 5%, while inflation eats away at what’s left.
In this episode of the Retirement Reality Report, Mike Adams walks through three forces converging on retirement right now: eviction risk in assisted living, the Social Security countdown, and the return gap most advisors won’t talk about. You’ll hear why “just save more” is a patch, not a plan, and what actually closes the gap between the returns you’re getting and the returns your retirement needs.
If you’re within 10 years of retirement, or you know someone who is, this one is worth 20 minutes.
Mike Adams is the founder of Adams Financial Concepts and has been helping pre-retirees and retirees protect and grow their wealth since 1993.
Schedule a complimentary 30-minute portfolio review at adamsfinancialconcepts.com. No obligation. Just an honest look at whether your portfolio is positioned for what history suggests is coming next.
To schedule an appointment to discuss your financial goals with Mike CLICK HERE TO SCHEDULE
