Just Google "Pensions" and you will find loads of stories on how woefully underfunded they are. CalPERS...the Nation's largest pension fund might soon be able to reallocate how much they pay employees (see article here) . President Elect Donald Trump has plans for Government workers and their pensions (see article here). And Dallas Texas might be on the verge of bankruptcy due to it's Texas sized pension deficit (see article here) .
Psychologist Nathanial Branden has a famous quote from his book Six Pillars Of Self Esteem, "No One Is Coming To Save You". This is absolutely true for our financial future today more than any time in our modern history. If you are not taking your retirement into your own hands you will have no one to blame when your savings come up short.
I heard a great saying once from a baseball player..."Take the umpire out of the game." He was saying...score so many runs so if the umpire makes bad calls that go against you it won't affect the outcome...you'll still win. This is absolutely true for your future. Create so much income for yourself so that if Social Security and your pension or that inheritance you are hoping for never materialize it won't affect you...you had a plan B.
The best way I know how to create money for your future is to own rental property. Rental property is like an ATM machine that spits out money every month. Once the loan is paid off you get to keep the majority of that money. One little building will save you, two, three or more will give you a lot more options when you retire. Options are what we want!
Anyone can do this. Anyone can buy a rental property...you don't have to be rich or have a high paying job. I have lots of stories about regular people who bought a lot of property over time...one at at time. The value and rents of their properties increased bit by bit yielding them a very nice income once the loans were gone.
You can start by using a low down payment and buying a 2-4 unit to live in...buying an owner occupied property requires a much smaller down payment. Then after you have saved some more money, you can buy another one...save some more...buy another. It's not rocket science and this is an investment that gives you total control. You pick where you buy, you pick your tenants...you aren't leaving this up to anyone else.
According to Time/Money in 2015 - 69% of American's had less than $1000 in savings yet the airplanes are full every time I fly and the restaurants are packed as I drive down the street. People are living beyond their means, spending and not saving and at some point we need to ask ourselves if that vacation and all that eating out is going to get us anything other than some temporary gratification. Save yourself first...buy a property then take that vacation.