This One Will Cost You

Low levels of financial literacy in the U.S. are creating a massive problem.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [Browser View]( [Wealthy Retirement]( Financial Illiteracy: This One Will Cost You Steve McDonald, Bond Strategist, The Oxford Club [Raining Money]( ["Thanks to you, my account has grown to $770,000. I want to be a millionaire and am well on my way." - Reader John Gable]( The man who taught John how to do this wants to teach you too. [Click here to find out how to take his class for just $0.51.](   [Steve McDonald]  The financial illiteracy crisis in this country costs us a fortune - and this will only continue. It has already crippled the retirement lives of almost half the boomers, and if something isn't done, the Gen Xers and millennials aren't going to fare much better. It's a sad fact, but 47% of boomers have nothing saved for retirement. And a full 21% of elderly married couples, and 45% of unmarried people, rely on Social Security for 90% of their income.  Question of the Week  Are there any sectors you would never invest in? [Click here to answer.](  The average Social Security check this year is $1,422. That's $17,532 per year. Most of us spend more than that on restaurant meals and travel. And a full 40% of households with people ages 35 to 64 heading them will run out of money in retirement. The same households have a total retirement deficit of $3.8 trillion. In case you haven't already figured it out, no one will be left on the street starving. We, and our children and grandchildren, are going to pay that $3.8 trillion bill. Those of our age group who are expecting to run out of money in retirement have few options. We can downsize and live on what Social Security will pay us, or we can return to work. Some of us - not many, but 6% - plan to ask our children for help. These are not the golden years any of us expected. The only explanation for the pickle we're in is that no one, and I mean no one, has been trained in personal finance. In my experience, most adults are unqualified to manage credit, spending, retirement savings and any savings at all. It's a national disgrace. And we aren't talking about brain surgery, either. This is not rocket science.  [How to Retire Starting With $20](  [Bill O'Reilly and Alex Still Shot](  [Bill O'Reilly and a legendary stock picker just revealed the only way to retire rich starting with $20. Details here.](  I hope this doesn't sound like I'm coming down on just the education system. It's not the only weak link in this national tragedy, but less than 5% of students in 23 states have to take a stand-alone personal finance course. Considering how badly prepared the boomers are (and the millennials and Gen Xers aren't much better), that's pathetic. There is a growing effort to get teachers qualified to teach courses in personal finance, but it's truly a herculean effort. It's not impossible, but we're not going to turn the tide anytime soon. And the proposed changes in the education system will do nothing for the boomers' situation. But since this is the Two-Minute Retirement Solution, here's what we can do to help... Based on The Oxford Club Members I've met at our meetings and conferences over the past 17 years, I know we have an army of highly qualified, well-trained, experienced professionals from the money business. And most of them are looking for something to do in retirement and make a difference. All it takes is a phone call to your local high school to offer your services as an instructor or finance coach. We have the people with the tools, and we can make a difference that will be felt for generations. The illiteracy crisis has to be corrected, and we, the boomers, can be the ones to do it. Make the call! Good investing, Steve  [Click Here to Comment](  [Bags of Cash Labeled Dividends]( [World Record Dividend Yield?]( It's not 5%... 15%... 35%... or even 50%. [Check out what MUST be the world record here.](  - More From Wealthy Retirement -   [Investment Value]( [Closed-End Bond Funds: What You Need to Know]( [In today's low interest rate environment, investors in closed-end funds should be discerning about finding the best deals.](  [Couple Doing Business Online]( [Solve the Wealth Gap by Starting at Home]( [For many investors, wealth inequality can be solved at the individual level.](  [Skeptical Businesswoman]( [Why It Pays to Be Cynical]( [A new buy indicator can offer investors profits even during the market's toughest moments.](    [Facebook]( [Twitter](   [NO MORE OUCH! Finally... say goodbye to joint pain for good!](  [Man With Joint Pains]( Banned by the US government for 82 years, this miracle remedy is now 100% legal... and I want to send you [three FREE bottles]( today! 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