We look forward to the Van Mueller newsletter every month. It's chock-full of sound bites, sales tips, and eye-opening statistics. Here are our favorite parts of the January 2024 edition. We're sharing the full introduction, and 2 of the 7 monthly sales ideas. If you like what you read, we encourage you to click here and become a subscriber.
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January 2024 – 7 Ideas and Views Newsletter by Van Mueller
Happy New Year Everyone!
2024 will start the beginning of the most dramatic challenges that Americans and Canadians will ever face. The rest of the world will be even more impacted by the future challenges; however, I will only share how those additional challenges will create more opportunities for all our customers who are willing to build a strategy to take advantage of those opportunities.
The challenges will be the greatest we have ever faced. They will be global. The danger is increasing significantly and expeditiously while being obscured by the government, Wall Street and the banks.
How do I know this? Because many of my clients are hearing from media that the economy is improving, and inflation will soon be non-existent and that we will have a soft landing and they wonder why I am so concerned.
This is important: I believe you will have this conversation many times in the weeks and months ahead. Please remember that you make dramatically less sales when you tell a prospect or client that they are wrong.
Shouldn’t you ask a lot of questions when confronted with incorrect observations by our prospects and clients? Isn’t it better if they reason out that it is more beneficial to build a successful strategy that is specific to their particular situation than listen to very general fifteen second morsels of information that have no real foundation in fact? Aren’t all deliveries of information coming in smaller and shorter bites? Isn’t that because the attention span of people in general is decreasing dramatically?
Aren’t all deliveries of information coming in smaller and shorter bites? Isn’t that because the attention span of people in general is decreasing dramatically?
We know that misinformation repeated many times becomes truth to many people, even if it is ridiculous. Aren’t we seeing this misinformation increase exponentially in our politics? If it works there, why wouldn’t it work in the insurance and financial world?
According to www.usdebtclock.org our national debt increased from $33 trillion in October to $34 trillion by the end of December 2023. Most Americans don’t even know these numbers exist. I don’t want to be negative, but I would be willing to guess that more than 75 percent of insurance and financial professionals also don’t know these numbers exist.
In Canada, they are now more than $1.2 trillion in debt. Only a few years ago, Canada never ran a deficit.
Americans and Canadians are going much deeper in debt than ever before. If the government can do it, why can’t we? What is the difference everyone? The government can print money: People cannot. This debt is causing real financial danger. There has never been a greater need for life insurance in the history of the world. Debt Signals The Need For Life Insurance!
There has never been a greater need for life insurance in the history of the world. Debt Signals The Need For Life Insurance!
American and Canadian people are piling up debt at spectacular speed. What happens then, if the breadwinners die? Where does the money come from to deal with all the debts?
Again, according to www.usdebtclock.org, our country’s current unfunded liability, which means there is No Money Set Aside to pay these liabilities is $212,712,223,800,900. That is almost $213 trillion. By 2031 the US Debt Clock forecasts that our unfunded liability will have increased to almost $346 trillion. That is a $133 trillion dollar increase in only eight years. WHERE WILL THAT MONEY COME FROM?
Please ask our prospects and clients if we can trust the science or economics? Isn’t that math behind the pronouncements of government, Wall Street and the banks being manipulated, influenced and yes, even ignored? Aren’t there so many opinions and methodologies that honestly, hasn’t it become impossible to forecast the future except in tremendously broad opinions, such as we know the economy will eventually recover.
Won’t the government tell us that inflation can be gotten under control? We will talk about that in a few minutes.
Isn’t our number one goal as insurance and financial professionals to SIMPLIFY these increasingly complex issues so our prospects and clients have more confidence making a beneficial decision for themselves, their families and their businesses?
Isn’t our number one goal as insurance and financial professionals to SIMPLIFY these increasingly complex issues so our prospects and clients have more confidence making a beneficial decision for themselves, their families and their businesses?
Here are some simplified discussions you can have with prospects and clients about the fact that there are truly only limited courses of action available to government and to us to stay in control of our financial and retirement futures.
Mr. & Mrs. Customer, if you knew what actions government and Wall Street and the banks might take ahead of time, could you prevent being harmed by those actions? More importantly, could you then build a strategy that would put you in a perfect position to take advantage of those actions rather than being hurt by them? Won’t these struggles continue for all our lives? If you understand that, wouldn’t that allow you to be successful and in control of what happens for as long as you live? Wouldn’t it be advantageous to be in control of your financial and retirement future rather than being controlled by unfavorable programs and issues? If all that was required that you answer, for yourself, a few questions that would help you clarify how to be in control and stay in control, wouldn’t that be worth a few minutes of your time? Wouldn’t you like to be prepared before all this economic upset occurs rather than defend yourself against the consequences?
Let’s have a discussion about several issues that can and will lead to appointments and additionally lead to more success in all those additional appointments.
Taxes should always be the first issue that you ask questions about. Why? Taxes are an emotional issue for almost everyone. Asking questions about taxes inspires our customers, emotionally, to take action.
Asking questions about taxes inspires our customers, emotionally, to take action.
Ask your customers these questions. Aren’t governments at the Federal, state and local levels going to need a lot more revenue? Isn’t the easiest way to accomplish that to raise ALL kinds of taxes?
Not only will they raise Federal income taxes, won’t they raise property taxes, sales taxes and state income taxes?
Won’t increases in property taxes immediately harm the housing market which is 30 percent of the U.S. economy? Won’t sales taxes increase costs forcing Americans to buy less goods and services. Won’t states that don’t have income taxes give consideration to adding state income taxes? Won’t states that already have income taxes increase those taxes in the future?
Please ask your customers to consider this. Don’t the Trump tax cuts sunset and expire on December 31, 2025? The congress doesn’t even have to vote to get a tax increase in January 2026. Is it possible they could even change the laws sooner. Won’t higher taxes cause Americans to have a lower standard of living? Could higher taxes prevent a successful financial and retirement future? Think about this carefully: Shouldn’t we ask everyone about higher taxes, if at a gut level, our customers already know our governments will need more revenue in the future? EVERYONE ANSWERS YES!
Couldn’t the government also decrease our benefits as a second option? More and more is being written, literally every day about the financial well-being of both Social Security and Medicare. What if they change initial retirement age to 65 and full retirement age to 70 and the maximum age to 75? If there is no additional funding could benefits be lowered? If the deductibles increase for Medicare wouldn’t that increase the cost of Medicare Supplements and Medicare Advantage? This would be a never-ending discussion about all the ways governments could reduce benefits. This is already being done at every level of government. Simply ask your prospects and clients how they will replace those lost benefits and ask them when they want to prepare, before or after they lose the benefits.
Another way that government tries to fool the American people is by putting forth the idea that we could grow our economy fast enough to offset all the new debt we are creating. Mathematically, that is no longer possible. The United States, which is the largest economy on Earth has grown at a rate of between 2 and 3 percent since the year 2000. This should really scare you. California, which is the fifth largest economy on planet Earth will have negative growth this year. They are losing population in droves. California is a mess.
China, Japan and Europe are facing the same lack of growth issues. Debt, however, is growing exponentially faster in all of these countries. Will we ever see real growth again? What happens to the benefits and services government provides if there is little or no growth in the economy? Let me ask again… What happens?
What happens to the benefits and services government provides if there is little or no growth in the economy?
If the government can’t raise the revenues enough or lower the benefits enough, what would be the ultimate solution for government? Won’t they have to, and aren’t they already printing enormous amounts of money? Won’t the Federal Reserve print whatever money is necessary to meet the promised and unpromised benefits provided by government? Doesn’t that cause inflation? Isn’t inflation a stealth tax? Doesn’t inflation reduce the purchasing power of our money? Isn’t that a tax?
Currently, the government is telling us that inflation has fallen to around three percent. Doesn’t our government manipulate these numbers? Ask your prospect or clients what is not included in measuring current inflation. They will know one or two of the measurements that are not included. Those measurements are food costs, energy costs and healthcare costs. Then ask if those things were included could inflation be possibly six or seven percent? Then briefly explain the accounting rule of 72. If you retire at 65 and had just 6 percent inflation, you will need twice as much income at age 77 to equal your purchasing power at age 65. If you lived until age 89 you would need four times the amount of income, you retired on at age 65 to maintain the same standard of living. If you are not working, how will you do that?
Here’s another example. A client has two million dollars. They earn 5 percent which is $100,000 per year of income. At age 77, this client would need $200,000 annually to maintain their standard of living. To do that they would have to grow the asset to four million or start taking from principal. Isn’t inflation one of the most dangerous challenges our customers will be faced with? Why? Isn’t it a sneaky challenge? Doesn’t it sneak up on you and then all of a sudden, you’re in trouble? Ask your customer if they would like to be controlled by inflation or in control of inflation.
Ask your customer if they would like to be controlled by inflation or in control of inflation.
By now, I hope you have come to the realization that government might employ all these tactics at the same time. Mr. & Mrs. Customer, what if you could build a strategy that would prevent these issues from harming you and even better, what if your strategy allowed you to take advantage rather than be hurt by these challenges? When would you want to employ this strategy, before these challenges impact you and your family, or after?
Remember:
1. Higher Taxes of All Kinds
2. Lower Benefits and Services
3. Grow Our Way Out of Debt
4. Inflation – Print as Much Money as You Can
5. A Combination of All the Above
Here’s the punchline: It is the greatest time ever to be an insurance and financial professional in the United States and Canada. You have the ability to design strategies that are not dependent on government. In fact, we can create and build strategies that will allow us as individuals to take advantage of every challenge the government, Wall Street or the banks create. In our countries we still have the freedom to design and build strategies that are successful under ANY CIRCUMSTANCE. The value of your advice is increasing exponentially. You are needed more than you have ever been. Information is now overwhelming our customers. We can help them organize all this information and make the most beneficial choices for themselves, their families, and their businesses. Insurance and financial professionals are not the problem. Aren’t we the solution, and don’t you need to start thinking in those terms?
Every year in the January newsletter I take you through a process of determining and understanding effective tax rates. Why do we do this? A vital part of our success and our customer’s success involves three words... FIND THE MONEY!
A vital part of our success and our customer’s success involves three words... FIND THE MONEY!
You must have some basic information about Social Security and taxes to accomplish that goal of finding inefficient and ineffective money. If you really review the information multiple times, I believe you will be able to accomplish that goal on behalf of your customer.
The average Social Security for a married couple over the age of 65 increased from $35,000 in 2023 to $36,000 in 2024, because of a 3.2 percent increase.
The average Social Security for a single person over the age of 65 increased from $21,000 to $22,000 because of the same 3.2 percent inflation increase.
The standard deduction in 2024 for a married couple filing jointly who are both over age 65 increased to $32,300. When one person is over age 65 and one is under age 65 the standard deduction in 2024 is $30,750. Finally, the standard deduction when both people are under age 65 in 2024 is $29,200.
For single people over age 65 the standard deduction in 2024 is $16,550. If under age 65 the standard deduction is $14,600.
That means that the above customers can make the standard deduction before they pay one cent of income tax. According to wage statistics from Social Security, 50 percent of Americans make less than $41,000. There are a lot of people not paying any income tax.
Next, there are seven income tax brackets. They are 10, 12, 22, 24, 32, 35, and 37 percent. I only go up to the 24 percent bracket for purposes of this newsletter. However, the conversation from marginal tax rates to effective tax rates applies at every tax bracket. That is why our tax code is considered to be a progressive tax code.
To remember the tax brackets easily I made up four rules. Here is an example for a married couple filing jointly and both ore over age 65.
| Marginal Rate | Effective Rate | |
|---|---|---|
| Rule of 56-10 | 10 percent | 4.16 percent |
| Rule of 127-12 | 12 percent | 8.57 percent |
| Rule of 233-22 | 22 percent | 14.72 percent |
| Rule of 416-24 | 24 percent | 18.79 percent |
The rules for one over age 65 and one under or both under age 65 or single over and under age 65 are similar.
This is a way to convert tax qualified money or tax deferred money into never ever taxable money and employ leverage to dramatically increase the effectiveness of the money.
Knowing this information provides tremendous opportunity. For the rule of 56-10 couldn’t our customer withdraw any amount up to $56,000 and only pay an effective tax rate of 4.16 percent. If they live on $50,000 per year, couldn’t you remove $6,000 per year from a fully taxable investment and forever rid the income tax on that withdrawn money for only 4.16 percent? Would a customer be interested in that?
If they live on $50,000 per year, couldn’t you remove $6,000 per year from a fully taxable investment and forever rid the income tax on that withdrawn money for only 4.16 percent?
Doesn’t the same discussion apply to the Rule of 127-12? If the customer lives on $100,000 per year doesn’t that still allow $27,000 per year to be withdrawn at an 8.57 percent effective rate? Are you seeing this? Any number less than $127,000 can be used to reallocate to something with no future taxes.
The Rule of 223-22, has an effective tax rate of under 15 percent. If you could eliminate taxes on IRA, and 401(k) money for less than 15 percent, Mr. & Mrs. Customer, would you do it?
The Rule of 416-24 has an effective tax rate of 18.79 percent. Ask these customers if they could eliminate the taxes on all their qualified money for less than 20 percent, would they do it? You would be astonished how many will say yes.
Qualified money and tax deferred gains are ineffective money because they can only cover one or two things and then the money is depleted. Cash value life insurance allows you to use the same money for multiple uses and then it is replenished at death. This is much more effective money in a world where discretionary money is declining dramatically.
I would like to finish this month’s newsletter with a few examples. There are hundreds or maybe even thousands of permutations concerning this information? The examples are only to help you learn a process. These examples are only a guide.
Finally, even if rates increase in the future, it is highly likely that our tax code will remain “progressive.” These rules even apply after the Trump tax cuts sunset in 2026.
Let’s get started with our 2024 examples.
Married Couple Over Age 65
(Assumes $36,000 of Annual Social Security: This is the New Average Social Security for 2024)
| 1. Social Security | $36,000 |
|---|---|
| Standard Deduction in 2024 | $32,300 |
| Total Income | $68,300 |
| How Much is Taxable of the $68,300? | $6,300 |
A married couple could withdraw $32,300 in addition to their $36,000 of Social Security and only pay taxes on $6,300 in the 10 percent bracket or $630.
| Standard Deduction | $32,300 = | $0 Tax | |
|---|---|---|---|
| This is the taxable Social Security | $6,300 = | $630 Tax | 10 percent |
| Total = | $630 Tax |
This couple could withdraw $68,300 of Social Security and fully taxable money every year for 10 years for a total of $683,000 or $68,300 every year for 20 years for a total of $1,366,000 and pay only $6,300 in taxes in 10 years or $12,600 in 20 years in federal income taxes. That is less than one tenth of a percent effective tax rate.
With Americans having longer life expectations, wouldn’t elimination of the income tax liability make the money last longer? This could be done with no additional risk.
You will probably use the examples in #1 and #2 the most. Think of the opportunities
The number that must be given consideration in this example is $68,300. If any of your customers use less than $68,300 that includes their Social Security, couldn’t they withdraw the difference and pay income taxes now at THEIR effective tax rate? If a client has $60,000 of income including their Social Security, wouldn’t it be beneficial to withdraw another $8,300 of fully taxable income if it would only cost them $630 in taxes to eliminate the taxes on that money forever? In 10 years removing the income tax liability on $83,000 would only cost $6,300 in taxes. In 20 years, it would cost them $12,600 to permanently eliminate the federal income tax liability on $166,000. Ask your customer, why wouldn’t anyone do that?
In 20 years, it would cost them $12,600 to permanently eliminate the federal income tax liability on $166,000.
Now let’s assume we have a retired couple living on $36,000 of Social Security and must now take a required minimum distribution of around $11,000. That would be the approximate RMD on $300,000 of qualified money on a 73-year-old. The $11,000 RMD would not cause a taxable event. Shouldn’t we ask them why they are not taking an additional $21,300 out of their qualified money over and above the $11,000 RMD? Wouldn’t that additional withdrawal only cost them $630 in federal income tax? Over a 10-year period if they took their RMD plus the additional amount from their qualified money equal to their standard deduction wouldn’t it only cost them $630 per year or $6,300 over 10 years to permanently eliminate taxes on $323,000? Think of all the life insurance and annuity opportunities. However, cash value life insurance would be the best choice. It is essentially one dollar doing the work of many dollars.
Any part of the standard deduction that they don’t use, should be used to leverage additional benefits while reducing or eliminating income tax liability. Shouldn’t all our customers know this information?
| 2. Social Security | $36,000 |
|---|---|
| Standard Deduction in 2024 | $32,300 |
| 10 percent tax bracket | $23,200 |
| Total Income | $91,500 |
| How Much is Taxable of the $91,500? | $86,100 |
A married couple could withdraw $55,500 of fully taxable money in addition to their $36,000 of Social Security and only pay taxes on $86,100, which would be $5,992.
| $32,300 = | $0 Tax | |
|---|---|---|
| $23,200 = | $2,320 Tax | 10 percent |
| $30,600 = | $3,672 Tax | 12 percent |
| Total = | $5,992 |
This couple can withdraw $91,500 of Social Security and fully taxable money every year for 10 years for a total of $915,000 and only pay $59,920 in income taxes. If they did that for 20 years, they could take out $1,830,000 of Social Security and fully taxable money and only pay $119,840 in taxes. That is a 6.5 percent effective tax rate.
Additionally, $91,500 is income for 84 percent of American taxpayers. You will use the examples in #1 and #2 the most. This is just a way to find the money. This is a way to turn inefficient and ineffective money into tax free dollars that can do the work of many dollars.
| 3. Social Security | $36,000 |
|---|---|
| Standard Deduction in 2024 | $32,300 |
| 10 percent tax bracket | $23,200 |
| 12 percent tax bracket | $71,100 |
| Total Income | $162,600 |
| How Much is Taxable of the $162,600? | $157,200 |
A married couple could withdraw $126,600 of fully taxable money in addition to their $36,000 of Social Security and only pay taxes on $157,200, which would be $17,584.
| $32,300 = | $0 Tax | |
|---|---|---|
| $23,200 = | $2,320 Tax | 10 percent |
| $71,100 = | $8,532 Tax | 12 percent |
| $30,600 = | $6,732 Tax | 22 percent |
| Total = | $17,584 |
The effective tax rate on this example would be $17,584 divided by $162,600 = 10.81 percent. Wow! Why is there a small difference between the full withdrawal and the taxable withdrawal amount? Please remember that the maximum amount of Social Security that is taxable is 85 percent. What I hope you are beginning to see is that taxing Social Security does not change the effective tax rate appreciably. Understanding these tax rules can help you find a lot of money to reallocate that is more beneficial for your customer.
| 4. Social Security | $36,000 |
|---|---|
| Standard Deduction in 2024 | $32,300 |
| 10 percent tax bracket | $23,200 |
| 12 percent tax bracket | $71,100 |
| 22 percent tax bracket | $106,750 |
| Total Income | $269,350 |
| How Much is Taxable of the $269,350? | $263,950 |
A married couple could withdraw $233,350 of fully taxable money in addition to their $36,000 of Social Security and only pay taxes on $263,950, which would be $42,977. The effective tax rate on this example is $42,977 ÷ 269,350 = 15.96 percent. Amazing!
| $32,300 = | $0 Tax | |
|---|---|---|
| $23,200 = | $2,320 Tax | 10 percent |
| $71,100 = | $8,532 Tax | 12 percent |
| $106,750 = | $23,485 Tax | 22 percent |
| $36,000 = | $8,640 Tax | 24 percent |
| Total = | $42,977 |
So if this couple lives on $200,000 of income per year they could withdraw another $69,350 and use it transfer forever taxed money to never taxed money or buy cash value life insurance that they can use the leverage to pay all the taxes on their qualified money. They could also use the cash value for critical illness, long term care or to offset inflation with the death benefit replenishing all the money used from the policy during life. Multiple uses for the same money.
| 5. Social Security | $36,000 |
|---|---|
| Standard Deduction in 2024 | $32,300 |
| 10 percent tax bracket | $23,200 |
| 12 percent tax bracket | $71,100 |
| 22 percent tax bracket | $106,750 |
| 24 percent tax bracket | $182,850 |
| Total Income | $452,200 |
| How Much is Taxable of the $452,200? | $446,800 |
A married couple could withdraw $416,200 of fully taxable money in addition to their $36,000 of Social Security and only pay taxes on $446,800 which would be $89,741.
| $32,300 = | $0 Tax | |
|---|---|---|
| $23,200 = | $2,320 Tax | 10 percent |
| $71,100 = | $8,532 Tax | 12 percent |
| $106,750 = | $23,485 Tax | 22 percent |
| $182,850 = | $43,884 Tax | 24 percent |
| $36,000 = | $8,640 Tax | 32 percent |
| Total = | $89,741 |
The effective tax rate on this example is ($89,741 ÷ 452,200) 19.85 percent. The effective tax rate on this almost $500,000 withdrawal is less than 20 percent. What would customers do if they understood that? Why would they wait until they die and lose 30, 40, or even 50 percent when their children or grandchildren inherit the money. Couldn’t they use cash value life insurance to turn forever taxed money into never taxed money? Couldn’t they use leverage to pay all the taxes effectively paying those taxes without one cent coming out of their own pockets?
In the #5 example the marginal tax rate is actually 32 percent. The effective tax rate is less than 20 percent. This information inspires our customers to reallocate enormous amounts of money to more effective and efficient strategies.
I always ask grandmas and grandpas what their children and grandchildren will do when they inherit the money. Will they take advantage of the 10 year stretch provision to reduce the income tax on their inheritance or will they take the money as quickly as possible without regard for the income tax liability even if they lose 40 or 50 percent to taxes? Grandma and grandpa always say their children would take the money as quickly as possible. Are the children and grandchildren greedy or stupid? Of course not. They worry that something bad could happen to the money in the future if they are not in control of the money. Isn’t that why almost every lottery winner takes their winnings in a lump sum?
Now ask grandma and grandpa this question; what if you could reduce or eliminate the income tax liability at a much lower rate while you were alive, without giving up control of the money? Wouldn’t that preserve a majority of this money for your family rather than the Internal Revenue Service? Even if you didn’t do anything, at the very least wouldn’t you want to know that something like this was possible? Much more often than not, they are interested.
HERE IS A SYNOPSIS OF THE INFORMATION FOR YOUR USE.
A. Pay only $12,600 to eliminate taxes on $1,366,000 over 20 years. The effective tax rate is less than one tenth of one percent.
B. Pay only $119,840 to eliminate taxes on $1,830,000 over 20 years. The effective tax rate is 6.6 percent
C. Pay only $351,680 to eliminate taxes on $3,252,000 over 20 years. The effective tax rate is 10.81 percent.
D. Pay only $859,540 to eliminate taxes on $5,387,000 over 20 years. The effective tax rate is 15.96 percent.
E. Pay only $1,794,820 to eliminate taxes on $9,044,000 over 20 years. The effective tax rate is 19.85 percent.
F. The real magic of the progressive tax law is that the client can control their income tax liability during a period of historically low tax rates. If our customers wait until they die, non-spouse beneficiary’s income tax liability could easily increase to 30 to 50 percent. Why? Because you have transferred the power of control over to the Internal Revenue Service.
G. At each of the above income levels you can reallocate “forever taxed” money into “never taxed” products like annual premium cash value life insurance, modified endowment contracts (MECs) or preferentially taxed products like annuities if our customer is uninsurable. Also, if uninsurable, the money can be converted to Roth IRA’s! You are reallocating the money after it has been withdrawn and the taxes have been paid on the withdrawals.
H. This strategy is used to reduce or eliminate taxes on IRA, 401(k), 403(b) and 457 withdrawals. This can also be used to eliminate deferred gains on existing non-qualified annuities. The strategy can be used to eliminate capital gains taxes for people in the 0%, 10% and 12% tax brackets. These people would pay 0 percent capital gains.
I. Life Insurance and Annuities Also Feature These Benefits:
- No Probate (With named beneficiaries)
- Incontestable and Private
- Control from the grave
- Creditor and predator protection
- Medicaid versatility
Next month I will share a few single person examples.
Let’s get started with this month’s sales ideas.
Idea #2: The Fifth Largest Economy on Planet Earth Is in Trouble
Believe it or not, California is the 5th largest economy on Earth. They have a $68 billion dollar deficit in spite of having the highest state income tax of any state. California forecasts very little growth and they are losing population. This is a warning sign for our economy.
Title: Year in review: Danger signs for California’s economy
https://calmatters.org/ (Cal Matters, December 22, 2023)
https://calmatters.org/politics/2023/12/california-2023-year-in-review/
Title: Exploring Gavin’s Dishonesty: California Tops State Individual Income Tax Rates
https://californiaglobe.com/ (California Globe, December 18, 2023)
https://californiaglobe.com/fl/exposing-gavins-dishonesty-california-tops-state-individual-income-tax-rates/
Idea #6: Could You Live on $87,000 for the Rest of Your Life?
Average retirement savings is $87,000. If most retirees live 10 to 20 years in retirement, how long would that money last?
Also, we have had a 16-year bull market. What happens to that average after a recession? This is serious. We have to show people better strategies that allow them to win.
Title: The Average Retirement Savings for American Household Is Just $87,000
https://www.fool.com/ (The Motley Fool, December 12, 2023)
https://www.fool.com/investing/2023/12/12/the-average-retirement-savings-for-households/
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