How did this happen? Well, back in 1983, the US Congress raised social security and Medicare taxes to create a surplus ‘trust fund’, which would ensure the stability of social security for the next 50 years. And every year since then, the Social Security Administration has collected more money than they've had to pay out. But the problem is, US elected officials haven't saved a penny of this surplus. Instead the last three US Presidents have spent every single extra social security dollar on other government programs. Now this money is most likely gone forever”
“The Social Security system has no trust fund. No lockbox. When you pay your payroll taxes every year, the money is not converted into gold bars and shipped to some desert island, ready for retrieval when you turn 65. A piece of paper gets deposited in West Virginia saying that the left hand of the government owes money to the right hand of the government."
How did Congress get away with a stunt like this? Simple… demographics. For the past 70 years, we've had more people paying INTO social security than the number COLLECTING. But 76 million baby boomers will start retiring next year (about 12,000 per day). And even the Social Security Administration admits the program will soon go broke unless something radical is done.
The point is, if you are relying on social security for a large chunk of your retirement money, you could be in for an unpleasant surprise. And… even if social security is "fixed," allowing you to collect the maximum possible payout (which is $2,053 per month before taxes right now), how far is that money really going to go? Prices for everything from gas to food to clothing have soared in the past decade. Imagine what these things will cost 10 years from now.
But the good news is I believe I have found the perfect solution for most people who want to retire. If you are at or near retirement age… or if you simply want more money deposited into your bank account on a regular basis, "Supplemental Retirement Income from Condotel Investments in the Philippines " will dramatically improve your life.
Philippine Condotel Investments or Buy to Let Rental Property - a solid alternative to failing Pension Plans. Buy to Let rental properties are now being preferred to failing Pension Plans as more and more Filipinos and Overseas Property Investors look to the future and retirement.
20 Dollars a day for 6 years will buy you a Studio Condotel unit in the Philippines with a projected ROI through rentals of some 500 dollars per month after 3 years. With preconstruction property appreciating at some 20-30% per annum not only does the Real Estate Appreciation look good but the rental income is in excess of what many Pension Plans offer for the same or similar investment.
With many Overseas Filipinos and Offshore Property Investors looking to start saving for retirement, the Philippines with its comparative low cost of real estate yet high rates of Hotel Accommodations, make the Condotel investment an extremely attractive investment proposition.
“Many of my clients are looking for investments that will give them an income for retirement as an alternative to traditional private pension plans that have failed. Personally, I have always regarded Pension Plans as a glorified ‘Pyramid Scheme’. Most company pension plans are insufficient as are Government Pensions. Bank rates for Savings accounts are at record lows. Savvy investors are now looking for a more solid investment with potential for monthly income. Condotels in the Philippines fit the bill”
“One of my clients from Chicago, just purchased 4 Studio Condotel Suites at Lancaster – The Atrium Manila which is currently in preconstruction sales. His plan is to retire in the Philippines in 2012, live in one of the Suites and receive the Condotel rental income on the other three. His outlay for the purchase is only around 85 Dollars a day for 6 years by opting to purchase on a 6 year no prequalification, no down payment, no interest payment plan. Even before completing payment for the units, he will be receiving some $1,500 a month in rental income in additional to any Government or Private Company Pension Plan. Better yet, the rental income is in tune with inflation and buying on preconstruction terms gives real estate appreciation of some 60-80% over 3 years. As Hotel Rates increase yearly, so does the rental income”
