3/4/2015 – American’s Aren’t Saving Enough for Retirement, but One Change Could Help (The New York Times)

Mar 04, 2015 Comments Off by

Here is something every non-rich American family should know: The odds are that you will run out of money in retirement. On average, a typical working family in the anteroom of retirement — headed by somebody 55 to 64 years old — has only about $104,000 in retirement savings, according to the Federal Reserve’s Survey of Consumer Finances. That’s not nearly enough. And the situation will only grow worse.The Center for Retirement Research at Boston College estimates that more than half of all American households will not have enough retirement income to maintain the living standards they were accustomed to before retirement, even if the members of the household work until 65, two years longer than the average retirement age today.

Read the full article at The New York Times.

Financial Landing 2015

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