Retiring? 70 May Be the New 65
Yesterday we wrote: “To prove the tune-ability of our software, we opened a $200,000 research account and set the software to produce 1% per year.”
And now (drum roll, please), we offer you our Prism Virtual Bank CD (not a bank, not a real CD, not FDIC insured, not connected with the U.S. government, offered for comparative and entertainment purposes only).
Visit this link, Dear Reader, and you will see that we’re already averaging .08% per month. Multiply that by 12 months and you’ve got yourself a whopping .96% for the year, just a tad off our 1.0% annual profit target. Remember, we’re trying very hard here NOT to accidentally generate more profit than that. If we accidentally generated 2% for an entire year, we’d be off by a factor of DOUBLE! An error like that would have landed a man on Mars, not the Moon.
We’ll keep you posted from time to time and let you know how we’re doing. The only danger here is that we may doze off once in a while watching this account. Speaking of dozing off, we read…
“It’s become common — and comforting — wisdom: Those who haven’t saved enough for retirement can significantly boost their income in their golden years by working until the age of 70, instead of the traditional 65… Not so, counters a study released Thursday by the Employee Benefit Research Institute. ‘… about a third of today’s households wouldn’t be financially ready even if they worked to age 70…”
So perhaps having a bank CD that paid a lot more than 1% a year would be a good thing for folks who have to keep working until they drop. At least they could build up some equity in the background, then tap into it when they need it.
As always, Prism Solutions offers a FREE, no-obligation consultation to answer your questions and see if we can help you achieve your retirement. Get in touch and let’s talk.
And May All Your Investments Be Profitable…
David Taylor and Gordon Philips, Directors
Prism Solutions, LLC
‘Better Investing Through Science’
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