In most developed areas of the world, 65 is what is considered retirement age. This is the age at which we would all hope to be able to stop working and enjoy the "golden years" of our lives. But is this the reality in today's world? Are people really financially solvent enough to retire at age 65? Where do you think you will be when you reach this retirement milestone?

Life's Success Formula

For generations, the formula for success had been sold as this:

-Go to school

-Get a good education

-Get a good job

-Work hard until retirement age

-Retire at age 65

More than 95% of the working class in the world is following this formula for success; unfortunately, they seem to be failing miserably.

What Life's Success Formula Gets You At Age 65

Following this formula, one would expect to create wealth along the way; to trade a lifetime of hard work, dedication and loyalty for wealth creation that will carry him or her through the later years. But what is reality saying?

In Australia, at age 65 the population breaks down in this way:

-1% of the population at age 65 is what could realistically be considered "rich"

-4% of the population is what can be termed "financially independent" meaning they are not quite rich, but have enough money and/or investments to live a comfortable life without working (although for some, that is only true if they do not live too long)

-96% of the population is either dead, financially broken, depending on an insufficient pension, or depending on others (family) to support them

Without working well past retirement, 96% of Australians could not stop working and live out there lives in even modest comfort.

Americans, living in one of the richest nations of the world, are not faring much better (if at all). According to the U.S. census bureau, more than 23% of people between the ages of 65 and 74 were in the work force in 2006 (most recent reporting year). Close to one in four was either looking for work or currently working. Almost a quarter of the American population could not afford to stop working at retirement age because they had no means of adequate financial support.

Worse still, there are likely a number of citizens in each nation that are not accounted for, those who need an income, but are not physically capable of holding a job. Yes, the other 75% of the American population between ages 65 and 74 are not necessarily financially solvent, they just aren't currently included in work-force statistics.

What Statistics Say About Life's Success Formula

What can be taken from these statistics is that life's success formula is not enough. A traditional education and a good job are not enough to ensure successful wealth creation. They will not guarantee that you will have enough money to retire and live comfortably when the time comes.

Statistics such as these are telling the world's populations that they need a new formula if there is a hope of retiring (at any age, but preferably early) and enjoying the finer things in life. Statistics such as these show that wealth creation is not just a luxury, it's a necessity for those who want to achieve financial security for the future.