You have been receiving annual social security statement every year around your birthday time. Have you ever stopped to read the message on the statement? Here is a brief quote of the message by Social Security Commissioner Michael J. Astrue on the front page of last year's statement:

"In 2017 we will begin paying more in benefits than we collect in taxes. Without changes, by 2041 the Social Security Trust Fund will be exhausted and there will be enough money to pay only 78 cents for each dollar of scheduled benefits."

I saw an article yesterday on a financial advisor's publication about the call to raise normal retirement age from 67 to 70. Click HERE for a copy of the article. Are you one of those who count on Social Security payment as a main source of retirement income? You should think again about the security of your retirement finance. What income can you really count on that will be there as long as you live? Are you one of the few fortunate ones that still have company pensions? You have worked all your life for the day when you can stop working and start enjoying all that life has to offer. How can you make sure that you don't outlive your financial resources before you run out of life? You have insured everything valuable in your life - your house, your car, your health. You even insure appliances and vacations. But, have you thought about insuring your retirement? If you think that the government will take care of you, you have to think again. What if all the government could do is to ask for your understanding that "we are broke"?

The worst time to not have money is when you no longer have the ability to work. Therefore, it makes sense to think about your retirement right now and have the sources of retirement income worked out.

I started working in the retirement financial field when few people cared about it, as people were getting double-digit gains in their Wall Street investments thinking that they had found the perfect "money machine" to erase all money worries forever. Today, I specialize in retirement financial planning with emphasis on retirement income planning. I have helped clients successfully create their own security in retirement by setting up their own pensions. I have brought peace of mind to clients, who are now enjoying better quality of life, better health and better relationships because of the wise decisions that I helped them make about their retirement.

No time in history is financial planning for retirement as critical as right now. Let's recap what the Americans are facing today:

1. Social Security Benefits. Starting from 2009, the millions of baby boomers each year have been reaching retirement age and become eligible for Social Security benefit. In 1945, for each social security benefit recipient there were 16 workers paying into the fund; currently, for each recipient, there are 3.25 workers paying the social security tax; in year 2040, for each recipient, there will be only 2 workers paying into the fund. Ever read the back of your social security annual statement? It says in less than 10 years, the social security will be paying out more benefit than the taxes collected; and if things remain the same, in 2040 the social security trust fund will be exhausted.

2. Pension uncertainty. Elizabeth Warren, Law Professor at Harvard University, pointed out "“There’s no business in America that isn’t going to figure out a way to get rid of these benefit promises.” In the private sector, over 1000 employers shut down their defined benefit pension plans every year, not to mention the companies that declare chapter 11 bankruptcy. Let's also look at the situation of the public workers - 90% of them are covered by defined benefit pensions, yet 14 million public workers and 6 million public retirees are owed $2.37 trillion by more than 200 states, city and government agencies. Many state and government pensions only have fractions of the fund to cover the promised obligations.

3. Longevity risk. In 1935 life expectancy was 62.9 years; American's life expectancy has been on the rise for decades and in 2009 it increased to 77.9 years. People live longer years in retirement, needing more money and resources.

4. Loss of retirement savings. Average people lost 50 to 70% of their retirement savings in the stock market crash of 2000. Many people's retirement savings suffered another loss of 30 to 50% in 2008 and 2009. With nest egg reduced dramatically, many could not afford to retire; those that are fortunate enough to afford retirement want to rethink about how to guarantee their life style with what they have left.

5. The tightening of the economy. America has been in the worse economic depression since 1930s. It did not come to an end until the Second World War. No one is certain how long this depression will last. People have changed; companies have changed' the country has changed. We are now operating on rules that are quite different from what they used to be.

6. Tax rates are expected to go higher. The George W. Bush-era tax cuts expire at the end of 2010, and the current outlook is that high-income Americans will take the brunt of the pain as income-tax and capital-gains rates revert to higher levels.

Can you afford not be think about your money? Can you risk your retirement security by not planning while you still can?

A poll done by Harvard Business School in 2007 shows 69% of people worry about outliving their financial resources and 80% of people are concerned about having adequate income during retirement. Are more or less people worrying or concerned now than three years ago? Are you closer to retirement age or further? Has your retirement savings increased or decreased now?

Financial planning is no longer a luxury that only the wealthy people need. Planning for a secure retirement and guaranteed stream of retirement income is a "must" for anyone who has at least some sense of responsibility toward oneself.

I specialize for many years now in retirement planning and retirement income planning. I can help you restore your confidence in a secure retirement. I can help you to have peace of mind. I can enable you to sleep at night. Together let's make your 2010 a very happy, prosperous and joyous year!