The $200 Billion Secret

This bright idea can help you supercharge your retirement readiness

Ric Edelman: It's Monday, December 11th. Let's talk about a scary retirement. Fidelity says 52% of US households cannot afford essential expenses in retirement. The typical household has only 78% of the income they need. The good news is that pretty much everybody sees this coming. You know you don't have enough money saved up. So instead of retiring, 77% say they're simply going to shift to fewer work hours, but they will still keep working. 23% say they're going to work for as long as they can. Not that anyone's happy about this. 73% of retirees say they wish they had saved more earlier. It's not enough to save or to keep working something else you got to worry about.

The National Adult Protective Services Association says 5% of older adults have suffered financial, elder abuse or financial exploitation just over the last 12 months. And guess what? The people most likely to rip you off is not some telemarketer or online scammer. In 90% of cases, the criminal who stole from the older person was a family member, and less than 10% of Americans can pass a Social Security quiz. But everybody thinks they know all about it. In one study, half of us adults said they know how to maximize their benefits, but only 8% could prove it. 20% of Americans are also unpaid caregivers, according to the Employee Benefit Research Institute. Caregivers have less money than non-caregivers, and they typically spend between 5 and 15 grand a year financially supporting the patient. 

Yuck. What a cloudy assessment. So I think I need to give you something sunny to talk about. So how about we talk about the Global X Solar ETF. The symbol is RAYS, okay bad segue, but work with me here people. If we're going to fix our retirement readiness problem we need to save and invest more. And we need to make the right investment decisions. That means looking to the future. And with climate change and green energy all the rage, one clear winner in the future is going to be the solar industry. Advancements in this field have made solar power cheaper and more efficient than ever before. Already, about 4% of all energy production in the US comes from solar. That's an increase of 80 X compared to just ten years ago.

Solar now accounts for more than half of all new generating capacity, and usage has gone up because costs have gone down. Just ten years ago, the price per watt of solar energy was $5.80. It's now less than a buck. Solar panels are cheaper to make, they're easier to maintain, and they last longer, too. These are the kind of investments you see in every technology. Remember your first video camera? It was huge and the pictures it took were lousy and it cost a fortune. Today, video cameras are a free app in your phone. Solar is going the same way, better and cheaper. 

We're spending so much attention on solar energy because it's the best way to solve our energy needs. Solar is free and the sun produces 10,000 times more energy than we need. Solar's clean, it's renewable, it's emission free. It doesn't pollute the air or require water. So not only does it get us the energy we need, using it helps us reduce greenhouse gas emissions and our carbon footprint. That means we can use it to help us slow down climate change. And all of that helps us improve our health because we avoid harmful pollutants that cause respiratory and cardiovascular problems. It's kind of amazing what they're coming up with floating solar farms, photovoltaic solar power systems that float on water. They're used in lakes, not just oceans. They can generate huge amounts of electricity without using land or real estate. Solar panels can also be integrated into buildings. Solar skins let you hide them or even turn them into artwork. They're even starting to make solar fabrics, clothing that actually generates power so you can keep your phone charged while you're just walking around. Solar panels can also be placed along highways to act as a sound buffer while they're producing energy.

The global market for solar energy could hit $200 billion in just two years, four times more than just two years ago. Imagine what it'll be by 2050. So take a look at the Global X Solar ETF, symbol RAYS. It invests in companies involved in solar power production, the integration of solar into energy systems, the development and manufacturing of solar powered generators and engines and batteries and other solar technologies. Check it out at Global X ETFs.com. For you're an investor, ask your financial advisor about it.

Hey financial advisors, even though bitcoin's been around for almost 15 years, there's still no spot Bitcoin ETF. That could all change any day now. I expect the SEC to approve these ETFs at any time. Do you know how to answer your clients questions about bitcoin? With these ETFs coming, you can't afford to wait. You need to get the knowledge you need right now about crypto, so you're prepared and ready to help your clients. When these ETFs enter the market, your clients are going to call you asking you for your opinion. You need to show that you have that knowledge, and the best way for you to do it is to get your CDBA designation. Become Certified in Blockchain and Digital Assets. It's offered by DACFP, my sister company, the Digital Assets Council of Financial Professionals. Its online self-study self-paced and listed in Finra's database of professional designations. Just like the CFP®, CFA, CLU, ChFC.

You need to serve your clients. You need to prepare and build your practice for the future, and the CBDA designation helps you do both. Enroll today and get your CBDA designation.

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