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The numbers are in for boomer retirement options and they aren’t looking good. According to the Insured Retirement Institute: Four-in-ten baby boomers have nothing saved for retirement.
‘At the current rate of 10,000 baby boomers reaching retirement each day for the next 18 years’ (The American Dream), a cry is going out in search of ways for boomers to financially catch up just to be able to survive. With only a few years to accomplish this Herculean task, it equates to a fast and furious ability to invest and find someplace for a quick and positive turnaround. But out there on the horizon, there may be a glimmer of hope. JP Maroney, founder, and CEO of Harbor City Capital has an unorthodox investing approach that has piqued the attention and the portfolios of a lot of boomers and the payoffs have given rise to a completely new view in investing.
“Baby boomers are the demographic group born during the post–World War II baby boom, approximately between the years 1946 and 1964. This includes people who are between 53 and 71 years old in 2017, according to the U.S. Census Bureau.”- Wikipedia
Why the Crisis Came About
This is a generation whose parents had survived the Great Depression and in turn, experienced one of the longest duration economic improvements of the country. A majority of boomers didn’t have any historic example for savings and investing and they were required to learn on their own. An important factor to remember in analyzing their behavior involves the philosophies that they were taught: The strategies to achieve the ‘American Dream’ included: being a long-term loyal employee at a company, purchase a home and invest in the stock market.
The last two topics seemed to work out well, that is, until the economy took a series of downtrends that destroyed the value of both their homes and their market investments. Even those that thought they were prepared for retirement found themselves hitting the ‘panic button’ and as the number of boomers hitting retirement age continues to increase, that button is growing larger and larger.
Academic director of the Global Financial Literacy Excellence Center stated in a conference call, “Most people do not plan for retirement. They have never tried to figure out how much they will need to save. Only 46 percent say they have ever tried to figure out” what they will need. Those nearing retirement, the late boomers, have a greater awareness, she said. But “if it is hard to support 30 years of retirement with a 40-year career, if you start at age 50, of course, it is going to be really, really hard.”
“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”- George Soros
“I’ve spoken at many seminars and conferences where Boomer investors gather, I’ve heard their stories, and some of them are just tragic,” says JP Maroney. “Many baby boomers obviously have just simply not prepared appropriately for retirement, but there is a good portion who did prepare, who worked the career, who saved money and invested wisely, but saw most or all of their net worth wiped out during the tech bubble or the 2008-09 financial crisis. I feel very fortunate that we have an opportunity at Harbor City Capital to do something about it.”
-JP Maroney, Founder, and CEO of Harbor City Capitol
There is a litany of statistics that bring the boomer retirement crisis to the forefront, and some of the most staggering include:
- 36% of boomers plan to rely on Social Security as their primary source of income. – Transamerica Center for Retirement Studies
- Early boomer households are facing average shortfalls of $71,299 per individual in a family.- Employee Benefit Research Institute
- 40% of boomers plan to work ‘until they drop’ – AARP
- Half of baby boomers in particular income brackets anticipate that they will run out of money within 10-20 years of retirement and will be unable to meet the basic needs such as rent, food and healthcare. – Employee Benefit Research Institute July 2010 report
- 79% of baby boomers are contributing to retirement saving plans, but 50% of them have saved up less than $100,000, and more than a third of them have saved less than $50,000 for retirement.”- PwC Employee Financial Wellness Survey
Given that life expectancy continues to rise, even the small group of boomers that thought they had planned well, are finding that they are coming up short in their retirement amounts.
Embracing the Challenge
Harbor City Capital has designed a unique investment strategy called ‘Digital Marketing Arbitrage’. Through the use of today’s technologies, combined with their Responzive /“Digital Ventures” performance-based digital marketing division and a touch of genius, they create ‘smart digital leads’ that are sold to companies that are hungry for these leads. It is a win-win for everyone, especially for their investors, who are receiving consistent double-digit annual returns.
There is no doubting that the internet has brought about a completely new attitude when it comes to investing. The era of digital marketing has turned everything around and has quickly become the evolutionary form that today’s companies are looking for. JP Maroney’s approach to growing companies through digital marketing is nothing short of genius — capitalizing on the ability to provide companies the fuel they need for growth on a pay only for performance basis.
Getting inside the head of the consumer is the wave of the future and Harbor City Capital has landed on a gold mine with their investment program. This is the perfect storm opportunity for baby boomers to take advantage of so that they can be in charge of their financial security and see it grow. For them, it’s all about a ‘close target date’ and this form of investment can bring them home.
“Chains of habit are too light to be felt until they are too heavy to be broken.”- Warren Buffett
“Yield is obviously very tough to find in the market right now and investors are looking for solutions,” says JP Maroney, CEO of Harbor City Capital. “At this point a lot of investors would consider themselves extremely fortunate to net just 6% a year, but at that rate it would take you 12 years to double your retirement savings. Through Harbor City Capital’s 3-yr, guaranteed fixed income investment an investor can earn 26% a year and double their money in just three years.”
Hope Can Spring Eternal
In an emarketer.com graph, they confirm the intense growth that has been occurring and will continue to happen in the digital ad spending market. In a six year span, spending jumped from $10.96 billion to $23.04 billion. Smartinsights.com has indicated: “It outstripped automotive, travel, financial services, pharma and media this year.”
“Chains of habit are too light to be felt until they are too heavy to be broken.”- Warren Buffett
“Yield is obviously very tough to find in the market right now and investors are looking for solutions,” says JP Maroney, CEO of Harbor City Capital. “At this point a lot of investors would consider themselves extremely fortunate to net just 6% a year, but at that rate it would take you 12 years to double your retirement savings. Through Harbor City Capital’s 3-yr, guaranteed fixed income investment an investor can earn 26% a year and double their money in just three years.”
It seems that JP Maroney and Harbor City Capital has a solution that is a perfect fit for baby boomers who realize they can’t rely on those old 401k’s, retirement plans or social security to have a comfortable retirement. In this case, it is all about accountability and Harbor City Capital’s unique program has opened the doors to opportunities of hope.
“Fundamentals make the market.”- T. Boone Pickens
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