So often we hear how hard it is in America to retire with financial independence. We hear horror stories that only a small percentage of our population has any money in retirement and that most folks are poor in their later years. We hear stories from those who attempt to sell us stuff that 50% of us will be dead or broke at age 60. We hear this so much that many have begun to accept this as fact. In fact it is part of a sales technique used in MLM or Multi-Level Marketing.

Recently in a coffee shop a future teacher was told that; only 2% of the American population's retirees are financially independent.

Of course being a teacher and of some intelligence she raised an eyebrow to that. And she said; Quite frankly I find that to be unfounded and erroneous."

The person who told her this was attempting to sell her on joining a multi-level marketing Internet type business. She asked what the true percentages really are and if this information was false. Well it would depend how you define financial independence really. But statistically things are not as rosy as many think. Stay off the heavy use of credit cards and respect your money of course. And watch out from scam artists who prey on Teachers. For instance this today in the news:

http://abclocal.go.com/kgo/story?section=local&id=3821454

The two-percent figure seems to be one a lot of people use and too often. And the 5% is also used a lot. I have traveled the nation and been to every city and I think it maybe higher than this actually, no matter how you define it. But if he is referring to the super wealthy he might be correct, you see? The Oppenhiemer website;

https://www.oppenheimerfunds.com/targetedCopy/InvestorPages/investorHomepage/homepage.jhtml;sessionid=5ELI2JUTPRWU5LARENVSFEQ?SID=0&_requestid=32489

has the most intensive studies and research that I have ever seen and they are showing "financially independent" as no more than 20%. If you surf around that site you will find an accurate snap shot of that continually changing number. I personally do not know what it is anymore. We live in a great nation and if you are smart with your money you can do well. Do not let anyone tell you that you are going to be broke when you retire. You certainly do not have to be if you plan ahead. Think on this in 2006.