Tag: Retirement

Bankruptcy Can Help You Plan for Retirement!

Instead of paying credit cards, you should be paying yourself!

Check out this article written by Peter Francis Geraci and more articles at https://www.infotapes.com/articles!

Most Americans know nothing about bankruptcy law even though it is in the United States Constitution. They don’t know how to get rid of their debt. That is no accident, since all the financial education courses, when they are required in high school, deliberately do not teach anything about bankruptcy law. You can take my debtor education course by logging onto http://www.pfged.com, or more if you want to spend two hours getting educated.

One thing I teach in my debtor education course is that you should start worrying about retirement early. If you don’t have at least your annual salary saved up by age 30, you are not on track to retire by age 67 very few Americans have their salary saved up by age 30. Very few are putting 5000 or more into an IRA every year but a lot of Americans are paying 5000 in credit cards minimum payments every year.

So if your credit card minimum payments are $500 a month, that is 2% your credit card debt, is probably around 25,000. If you file a bankruptcy case, or chapter 7 for immediate discharge, or chapter 13 to repay with no interest, sooner or later you will have no credit card debt, and can put that 500 a month in an IRA you will have $6000 a year. That means in the next 10 years you will have at least $60,000, even if the IRA does not increase in value.

Some financial educators also say that by age 40 you should have three times your annual salary saved. Another rule of thumb is to multiply your living expenses at 25 to see how much money you will need to retire, and last 25 years in retirement. Here’s how that works: if your expenses are 2000 a month or 24,000 a year, five times that is about $600,000. So by the time you are 65 years old should have $600,000 saved. I can you possibly do that? Well if to save $6000 a year or 30 years just to get $180,000. But if you invested 6000 a year and a dividend paying stock, paid a 4% dividend, would get the benefit of compound interest, and possibly also an increase in the stock price, and over 30 years your money just might triple.

If you are paying $500 a month in minimums and credit cards you will pay the credit cards off in about 22 years. That’s a lot different than having hundred $80,000 in savings 20 years from now, isn’t it? That’s why people that file bankruptcy truly get a fresh start, if they take my debtor education course, they learn how to retire with the pension or IRA of at least $200,000. More information is at http://www.infotapes.com.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 35,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Debt Surges and So Does Inflation

Geraci Law reports increase in pressure on retired workers!

Read the press release below from Geraci Law – you can read additional news @ https://www.infotapes.com/Press.

As if we can’t see it ourselves, the Federal Reserve reports that consumer debt levels increased 14% in March 2022. Credit card debt and other revolving debt increased by 21.4%.

Revolving credit, which includes credit cards, surged by 21.4%.

Food is up 10%, and gas is up 25% over a year ago. Pension payments have not increased, the stock market is down 20%, and social security payments are up only 5% or less.

At Geraci Law, we have seen this cycle before. Geraci Law is one of the oldest and largest debt relief agencies in the country, with roots going back to 1977. This data indicates that the cost of living will increasingly outstrip the ability to pay debt, in the coming months.

“It usually takes 2 years for consumers to realize they should eliminate or consolidate debt using either Chapter 7 or 13”, says Geraci Law founding member attorney Peter Francis Geraci.

“Bankruptcy filings are at a historic low, and borrowing is at a historic high, with the good feelings of a stock market bonanza all but gone.” Geraci Law is seeing an increase in Chapter 13 debt repayment plans filed by retired persons, and those approaching retirement. “Retirees and fixed income individuals are the canaries in the coal mine, the first to suffer from inflation and high debt repayments”, said Mr. Geraci.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 35,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

How to Retire with a $250,000 Pension!

So, if you’re smart, you’ll think about filing Chapter 7 now.

And retiring “rich” with a $250,000 pension that will give you an extra $2000 a month when you are old, until you are 92.

Are you over 50, and don’t have a pension? According to a report by the Retirement Equity Lab, over 1/3 of older Americans are just like you… doomed to retire on Social Security.

It’s even worse if you have debts you are paying, even though you could get rid of them now, and start funding an IRA for yourself.

Minimum payments on credit card debt of $500 a month will keep you in debt for the next 23 years. Read your credit card statement, it tell you. How old will you be then?

If you qualify to file Chapter 7 bankruptcy for only 4 payments of $500 or so, you will have no credit card debt on discharge 4 months from now.

You can then put 500/month into an IRA, or $6000 a year for yourself that you would have just paid out for interest.

Adding another $500 to it to reach the max contribution of $6500, and doing that for the next 23 years instead of paying $500 a month on debt, gives you $149,500 at age 72.

And that’s if you weren’t smart enough to buy a “blue chip dividend paying stock” every month, which would have given you another $100,000 in market gains and dividends without taxes.

So, if you’re smart, you’ll think about filing Chapter 7 now. And retiring “rich” with a $250,000 pension that will give you an extra $2000 a month when you are old, until you are 92.

Call Geraci Law to get out of debt fast, and “get rich slow”.

Hit the “Fresh Start Button” now! 1-800-CALL-PFG or log on to http://www.infotapes.com.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 30,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com