Economic Facts About Retirement
07/09/2015
At the same time that Americans are living longer, their financial future is filled with uncertainty. In recent years, middle class Americans have faced an on-going struggle to maintain a decent way of life. Stagnant wages, falling home values, increasing expenses, and paltry savings have all contributed to a looming crisis facing retirees.
In a recent report entitled "Ten Economic Facts about Financial Well-Being in Retirement," The Hamilton Project details some of the statistics that drive home the importance of planning as early as possible for a secure future. These facts include the following:
- More than three out of five 65 year olds today will reach age 80.
- Only half of non-retired American adults expect to have enough money to live comfortably in retirement.
- Middle class households near retirement age have about as much wealth in their homes as they do in their retirement accounts.
This report is designed to expose facts about retirement to those who set government policies, but its content is worthy of consideration by the public, especially those who recognize the need for better retirement planning. You can download the entire report below.
Comments