Retirement Shortfall: Why Most Americans Aren’t Ready—And What You Can Do Now

In this must-listen episode of the Strategic Wealth Strategies Podcast, Alan Porter dives into the financial truth most Americans are avoiding: the retirement savings gap is wider than ever. With surveys revealing that the average American falls far short of the $1.28 million they think they need to retire, Alan outlines the practical—and often surprising—steps anyone can take to secure a financially stable retirement.

Whether you're in your 40s, 50s, or already retired with limited savings, Alan shares tax-smart, risk-free strategies that can help you stretch your income, reduce taxes, and protect what you have. It’s not too late—but you need to take action.

✅ Key Takeaways:
📉 Why Is the Retirement Shortfall So Widespread?

Most Americans don’t start early enough—many begin saving in their 50s or later.

Poor planning: People spend more time planning vacations than they do their retirement.

Relying solely on 401(k)s leaves retirees exposed to:

Market risk

High fees (avg. 2.99%)

Ordinary income tax on withdrawals

No guaranteed lifetime income

💸 Are the $1.28M Retirement Targets Realistic?

For those living 30+ years in retirement, even $1.28M may not be enough.

At a “safe” 4% withdrawal rate, $1.28M = $51,200/year before taxes—not enough to cover inflation, healthcare, and modern expenses.

40% of Americans rely solely on Social Security—a dangerous and insufficient income plan.

🔁 What to Do If You’re in Your 40s or 50s:

Stop blindly contributing to a 401(k). Instead:

Consider cash value life insurance (indexed universal life or whole life) that:

Grows tax-deferred

Provides tax-free income

Is protected from lawsuits, liens, and judgments

Offers death benefits and long-term care options

Use defined benefit plans or other tax-advantaged structures to create legacy wealth

Think beyond investments—think protection, distribution, and guarantees

🏠 Your Home Can Work for You:

Use a HECM (Home Equity Conversion Mortgage) as a retirement asset

Especially powerful for people 62+ with high equity or a paid-off mortgage

Can provide tax-free cash flow and reduce pressure on retirement accounts

Alan explains why a reverse mortgage—when used properly—can be a game-changing solution

🛡️ For Those Already Retired (Or Close To It):

Alan recommends fixed or fixed-indexed annuities (not variable):

Provide guaranteed income for life

Higher distribution rates the older you get (up to 9%+)

Contractual income, regardless of market performance

Example: A client in her late 60s received a 9.3% guaranteed payout—over double the traditional 4% withdrawal rule

🧠 The Mindset Shift:

Stop following conventional Wall Street propaganda.

Alan encourages a paradigm shift toward strategies used by the wealthy and banks for decades.

It’s not just about growing your money—it’s about protecting and distributing it properly.

🗣️ Quotes to Remember:

“The 401(k) is not a tax deduction—it’s a tax deferral trap.”

“You don’t need $1.28 million—you need a plan that distributes income efficiently and safely.”

“The best time to start was 20 years ago. The second-best time? Right now.”

📞 Contact Alan Porter for a Free Consultation:

Phone: 910-551-1046

Email: [email protected]

Website: www.StrategicWealthStrategies.com

💬 “I don’t charge for consultations. My job is to educate, protect, and help you retire confidently—using strategies the wealthy and banks have used for generations.” – Alan Porter






Unleash your financial potential with Alan Porter of Strategic Wealth Strategies. Escape the shackles of debt, optimize your tax burden, and secure a TAX-FREE retirement. Our team of veteran CPAs, tax attorneys, and financial specialists have over 50 years of experience rescuing millions from unnecessary costs. Alan Porter, a SMART Advisor with a knack for paradigm shifts, will guide you beyond conventional financial planning to a brighter future. Ditch the debt, minimize the tax bite, and build lasting wealth. Learn how Strategic Wealth Strategies can change your financial game – contact us today!

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To request a free video explaining SMART Retirement or to schedule a phone call to see if you qualify, message Alan on LinkedIn or contact the office at:
910-551-1046
or
[email protected]