According to the Center for Retirement Research at Boston College, more Americans than in the past are at risk of failing to maintain their living standards in retirement. The Center just recently revised their National Retirement Index, a measurement that reflects American housing, changer in Social Security benefits, and household’s financial assets to determine retirement preparedness. The new Index reflects that 51% of Americans will not be prepared to retire at 65, up from the 2007 number of 44%.
While you may think these numbers are surprising, Paul Ballew, Nationwide Mutual’s senior VP of customer insights and analytics says that if we included the cost of health care and/or long term care in the Center’s Index, that number could jump up to as a whooping 70%. Remember, never forget about retirement planning, your future is too important not to! Use a trustworthy retirement calculator to ensure that you can not only retire on time but have enough money to last throughout retirement.
0 Responses to “51% of Americans Will Be Unprepared to Retire at 65”