August 10, 2015

Real economics: Retirement

A new survey finds that nearly one third of people who have some sort of savings plan have amassed less than $1,000 for retirement.

Time - The average middle class American has only $20,000 in retirement savings, according to a new survey that shows large swathes of the public are aware of those shortfalls and feeling anxious about their golden years.... 22% of Americans said they would prefer to suffer an “early death” than retire without enough funds to support a comfortable standard of living.

Huffington Post - In a recent working paper, we find that only 44% of workers in the United States have access to a retirement plan at work. Except for workers with defined benefit plans, most middle class U.S. workers will not have adequate retirement income -- 55% of near-retirees will only have Social Security income at age 65.

Average retirement age has risen three years in the past decade

Growing number of Americans feel they'll have to work until they're in the 80s . . .or until they die

1 comment:

Unknown said...

Unfortunately when you are young, you do not think about the retirement and necessary savings to provide the appropriate level of living. You will obviously want the same lifestyle that you have now, but the money from your pension will not provide it. So you need to make savings from the first job you get. Also you can use one of the appropriate top UK payday loans when you need money for your regular needs, but not take money from your saving account. Also try to limit your spending, so you can plan your budget more thoughtful.