Tony Robbins: Rethink Retirement, Don't Rely on Social Security

0:00Reporting from the Daily News now, I'm Cory with the latest in Durham, Tony Robbins is urging Americans to rethink their retirement plans and stop assuming social security will cover everything. He says too many people bury their heads in the sand instead of crunching the numbers on what they really need to live comfortably in their later years. The key is to track your actual spending, not just your income, and use that figure as your baseline. Apply your annual expenses by 20 to get a rough total for savings based on a safe 5 percent return assumption. This beats overly optimistic guesses and helps you see the gap clearly. Social security was never meant to replace full retirement savings, especially with people living longer and retiring for decades. Robbins pushes folks to dream big about their ideal retirement and map out realistic paths using retirement accounts and smart investments. Lovecare adds another layer, with Medicare enrollment timing being crucial to avoid penalties. Your initial window is a 7 month period around your 65th birthday, letting you sign up

1:03for hospital and medical coverage without gaps or extra costs. If you have employer insurance, a special 8 month period kicks in after that ends penalty free. Miss those? And you are stuck with the general window from January 1st to March 31st, which can mean higher life-long payments in delayed, coverage, planning ahead makes all the difference. This story is made possible by our sponsor. Salie Pillow is a pillow with built-in headphones, lay back, press play, and disappear into what you are listening to, S-O-L-I. SaliePillow.com