Illinois attacks its own economy again with "good" intentions.  SB 1565 Minimum Wage Hike will phase in a rise in the minimum wage to $10.65 an hour.  The new law removes exemptions for a 50 cent lower rate during the first 90 days as well as a 50 cent lower rate for teens under 18.   What could be wrong with helping low paying people get a raise?  Problem is small businesses will get the greatest pressure from this added cost burden and will result in more jobs lost.   At a time when we're trying to "create" more jobs, our legislature is contemplating putting more pressure on existing jobs.  Just one more example of why you don't want to have employees if you're trying to start a business.

Americans Expect to Retire at Age 67

Have you seen this article?!  For the first time, Americans (you and me) expect to retire at the age of 67!!!  This number has increasingly risen from age 60 seventeen years ago.  For those who are currently in their 20s, 30s and 40s, what do you really think that retirement age will be when you want to retire?  I would guess it's going to be pretty close to 70.

The article sites financial security (or insecurity for that matter) as being the main reason for putting off retirement.

Most people hope their investments or 401(k) will bring them security.  But we've seen what's happened with that in the past few years....history tends to repeat itself!  Or, maybe you plan on inheriting a lot of money....or winning the lottery.  Good luck with that!

Do you have a Plan B that actually makes sense?  Are you working that 45 year plan (or I guess it's 47 years now according to the article)?

Would you like to hear more about a 2-3 year plan?  We have been putting together a team working to develop our own financial security.  We'd like to give you more information so you can see if it's right for you.

Email us:  economicopps@gmail.com   or    www.facebook.com/economicopps

http://finance.yahoo.com/news/ideal-retirement-age-67-170806414.html