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‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

Yahoo

an hour ago

Yahoo

‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Tony Robbins, the well-known motivational speaker, warns that the most popular approach to Social Security is also the most dangerous. On his blog, he says relying on the program as the foundation of your retirement plan is a 'recipe for disaster." Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Here's why Robbins encourages people to look beyond this safety net and why a growing number of working-age Americans are already leaning towards alternative strategies. For most Americans over the age of 65, an average monthly Social Security benefit of $2,000 isn't enough. Data from the Consumer Expenditure Surveys (CE) program shows that retired households spend over double that every month. The program's sustainability is also in doubt, meaning future retirees could potentially see even lower benefits. Trust fund assets are expected to be depleted by 2033, according to the Social Security Administration (SSA), while the Trump administration's proposed tax cuts could deplete the funds in as little as six years, according to Marc Goldwein of The Committee for a Responsible Budget. In other words, Social Security might not be a solid foundation for your retirement plan. 'Time to get your head out of the sand and do some easy number crunching to find out where you are and where you need to be,' Robbins wrote in a blog post. Robbins goes on to encourage working-age Americans to create their own nest egg. Instead of relying on Social Security, it could be a good idea to start building out an independent retirement fund as soon as you can. Robbins recommends targeting savings of roughly 20 times your annual expenses. This can be coupled with the 4% withdrawal rule, which means you can safely use 4% of these assets after adjusting for inflation to meet your living expenses without depleting your funds over the long term. To reach that level of savings, it's important to start investing early and often. Read more: Rich, young Americans are ditching the stormy stock market — The key to building a robust portfolio for the long run is spreading your wealth across different asset types. As you approach retirement, you'll often need to sell off assets to maintain your lifestyle. But if all of your investments are in a single stock, and that stock is down when you want to retire, what will you do? That's why diversification is key. The stock market has see-sawed during 2025 due to a combination of geopolitical uncertainty and shifting economic priorities, driven in part by U.S. tariff negotiations. This is one reason why considering inflation-resistant investments for your retirement, such as gold, may be worthwhile. This precious metal is typically more stable than stocks during economic downturns and recessions. In April 2025, gold breached the $3,000 per ounce benchmark. What's more, JP Morgan Chase predicts that gold could soar to $4,000 per ounce in 2026. To capitalize on gold's growth potential while also securing tax advantages, one option is opening a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold against economic uncertainty. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in free silver. According to a Deloitte survey, 89% of wealth managers believe art and collectibles should be a part of a wealth management offering. That could be a sign it's worth considering this physical asset as a part of your retirement strategy. This market has traditionally been the domain of the ultra-rich, but now you don't need to be an expert in art to take advantage of this asset class. Platforms like Masterworks simplify the process of art investing, allowing everyday investors to buy fractional shares of blue-chip artwork from iconic artists like Picasso, Basquiat and Banksy. Like blue-chip stocks, these are pieces of art that tend to only increase in value over time. This can make it easier to diversify your portfolio without the complexity and cost of managing art investments on your own. Through 23 exits so far, investors have realized representative annualized net returns like 17.6%, 17.8% and 21.5% among assets held for longer than one year. You can get VIP access and skip the waitlist here. See important Regulation A disclosures at Then there's real estate. For most people, this means purchasing a home, but there are now ways to invest without amassing a sizable down payment and taking on a mortgage. For instance, with Arrived, you can invest in rental homes and vacation rentals, curated and vetted for their appreciation and income potential. Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allow investors to take advantage of this inflation-hedging asset class without any extra work on their part. For accredited investors, Homeshares gives access to the $34.9 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Yahoo

an hour ago

Yahoo

‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Tony Robbins, the well-known motivational speaker, warns that the most popular approach to Social Security is also the most dangerous. On his blog, he says relying on the program as the foundation of your retirement plan is a 'recipe for disaster." Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Here's why Robbins encourages people to look beyond this safety net and why a growing number of working-age Americans are already leaning towards alternative strategies. For most Americans over the age of 65, an average monthly Social Security benefit of $2,000 isn't enough. Data from the Consumer Expenditure Surveys (CE) program shows that retired households spend over double that every month. The program's sustainability is also in doubt, meaning future retirees could potentially see even lower benefits. Trust fund assets are expected to be depleted by 2033, according to the Social Security Administration (SSA), while the Trump administration's proposed tax cuts could deplete the funds in as little as six years, according to Marc Goldwein of The Committee for a Responsible Budget. In other words, Social Security might not be a solid foundation for your retirement plan. 'Time to get your head out of the sand and do some easy number crunching to find out where you are and where you need to be,' Robbins wrote in a blog post. Robbins goes on to encourage working-age Americans to create their own nest egg. Instead of relying on Social Security, it could be a good idea to start building out an independent retirement fund as soon as you can. Robbins recommends targeting savings of roughly 20 times your annual expenses. This can be coupled with the 4% withdrawal rule, which means you can safely use 4% of these assets after adjusting for inflation to meet your living expenses without depleting your funds over the long term. To reach that level of savings, it's important to start investing early and often. Read more: Rich, young Americans are ditching the stormy stock market — The key to building a robust portfolio for the long run is spreading your wealth across different asset types. As you approach retirement, you'll often need to sell off assets to maintain your lifestyle. But if all of your investments are in a single stock, and that stock is down when you want to retire, what will you do? That's why diversification is key. The stock market has see-sawed during 2025 due to a combination of geopolitical uncertainty and shifting economic priorities, driven in part by U.S. tariff negotiations. This is one reason why considering inflation-resistant investments for your retirement, such as gold, may be worthwhile. This precious metal is typically more stable than stocks during economic downturns and recessions. In April 2025, gold breached the $3,000 per ounce benchmark. What's more, JP Morgan Chase predicts that gold could soar to $4,000 per ounce in 2026. To capitalize on gold's growth potential while also securing tax advantages, one option is opening a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold against economic uncertainty. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in free silver. According to a Deloitte survey, 89% of wealth managers believe art and collectibles should be a part of a wealth management offering. That could be a sign it's worth considering this physical asset as a part of your retirement strategy. This market has traditionally been the domain of the ultra-rich, but now you don't need to be an expert in art to take advantage of this asset class. Platforms like Masterworks simplify the process of art investing, allowing everyday investors to buy fractional shares of blue-chip artwork from iconic artists like Picasso, Basquiat and Banksy. Like blue-chip stocks, these are pieces of art that tend to only increase in value over time. This can make it easier to diversify your portfolio without the complexity and cost of managing art investments on your own. Through 23 exits so far, investors have realized representative annualized net returns like 17.6%, 17.8% and 21.5% among assets held for longer than one year. You can get VIP access and skip the waitlist here. See important Regulation A disclosures at Then there's real estate. For most people, this means purchasing a home, but there are now ways to invest without amassing a sizable down payment and taking on a mortgage. For instance, with Arrived, you can invest in rental homes and vacation rentals, curated and vetted for their appreciation and income potential. Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allow investors to take advantage of this inflation-hedging asset class without any extra work on their part. For accredited investors, Homeshares gives access to the $34.9 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

NASCAR Teases Imminent Major Announcement Ahead Of Michigan Cup Race

Newsweek

3 hours ago

Newsweek

NASCAR Teases Imminent Major Announcement Ahead Of Michigan Cup Race

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. NASCAR has confirmed that a major partner announcement will be made today at the Michigan International Speedway at 1 p.m. ET. The announcement comes during the NASCAR Truck and Cup Series race weekend in Michigan and will be made ahead of the Cup Series FireKeepers Casino 400, which begins at 2 p.m. ET. It stated in a media alert that, "A major NASCAR partner announcement will be made on the pre-race stage at Michigan International Speedway for fans and media in attendance." #NASCAR will announce a new major partner on the pre-race stage tomorrow at 1 PM ET before the FireKeepers Casino 400 at Michigan. Hmm... What could it be? 😂 — Toby Christie (@Toby_Christie) June 7, 2025 Although it has not been confirmed what the announcement will be, many expect it to be to confirm the return of Dodge RAM as a manufacturer to the Craftsman Truck Series. Stewart Friesen, driver of the #52 Halmar International Toyota, celebrates with a burnout after winning the NASCAR Craftsman Truck Series DQS Solutions & Staffing 250 Powered by Precision Vehicle Logistics at Michigan International Speedway on... Stewart Friesen, driver of the #52 Halmar International Toyota, celebrates with a burnout after winning the NASCAR Craftsman Truck Series DQS Solutions & Staffing 250 Powered by Precision Vehicle Logistics at Michigan International Speedway on June 07, 2025 in Brooklyn, Michigan. MoreIf the iconic American car brand returns to the sport, it will be the first time a RAM has raced in the Truck Series since 2016. Commissioner of NASCAR Steve Phelps previously explained to Sports Business Journal: "We are having robust discussions with a number of [original equipment] partners that someday, if I had to guess and were a betting man, something is going to hit. "I just don't know with whom or the timing of that. I know that's an answer I've given repeatedly over the last five years, but they're facts. There's no BS in the comment I just made." If this is true, Dodge RAM would join Toyota, Chevrolet, and Ford as the fourth OEM in the racing series. On top of the rumors of Dodge returning to the Truck Series, there is also speculation that YouTuber turned racer Cleetus McFarland (Garrett Mitchell) could be racing with the team. NASCAR Cup Series FireKeepers Casino 400: Starting Grid

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‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

NASCAR Teases Imminent Major Announcement Ahead Of Michigan Cup Race

Tony Robbins & Dean Graziosi Introduce The Thrive In 2025 Event to Help People Step Into the Booming Knowledge Economy

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‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap

NASCAR Teases Imminent Major Announcement Ahead Of Michigan Cup Race

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