A retirement expert who advised both President Bill Clinton and Republican Governor Arnold Schwarzenegger claims that Big Business is counting on millions of “desperate” retirees for cheap labor.
The expert, Teresa Ghilarducci, is the author of a new book on retirement that paints a dire portrait of what’s coming for some older retirees.
“There are some businesses that are hoping there’ll be a big supply of desperate older workers ready to work,”
Ghilarducci said in an interview about her new book, Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy.
Companies that run janitorial services for corporations “really like the fact that these workers are very, very cheap and they’re very desperate,” she added. “The fact that the jobs are breaking down their bodies really isn’t a concern of the employers.”
Ghilarducci’s claim is an example of why many retirement experts advise older investors to think outside of the proverbial box when it comes to planning for their futures.
One way to do that is with little-known retirement strategies that allow older investors to collect income tax-free once they retire. Most other sources of retirement income — from Social Security to IRAs and 401(k) plans to rental income — all can be taxed.
For example, one little-known strategy lets retirees collect up to $3,900 per month for the rest of their lives — tax-free.
This tax-free income source is 100% legal and approved by the IRS. The problem is, even many accountants and wealth managers don’t know about it.
And here’s the best part: this income source can work even if investors don’t have very much money saved, or even anything saved at all right now. It’s an aggressive plan to generate income in a hurry — and every penny collected is tax-free.
To find out more, click here now.
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