The National Retirement Risk Index (NRRI) measures the share of working-age American households “at risk” of being unable to maintain their pre-retirement standard of living in retirement. ... As of 2010, the NRRI showed that, even if households worked to age 65 and annuitized all their financial assets (including the receipts from reverse mortgages on their homes), 53 percent of American households were at risk.By the way, the study shows that the problem has been getting worse.
Dec 24, 2013
Americans Aren't Prepared Financially For Retirement And The Problem Is Getting Worse
From the abstract of a study by the Center for Retirement Research at Boston College:
Subscribe to:
Post Comments (Atom)
1 comment:
Watch out! Here comes the "automatic IRA's" or AGA's (automatic government accounts).
What's the last thing you'd want to do when Social Security is the last remaining leg of retirement left for many workers? You'd implement Chained CPI which would further impoverish seniors and disabled.
That's precisely what Obama will try to do as part of his "break it, then fix it strategy". That fix is automatic retirement accounts, set up along side S.S. which is then gradually phased out. With the goal being that the S.S. trust fund is NEVER REPAID.
An article appearing in firedoglake is the best I've ever read in explaining a patient, methodical strategy to turn S.S. into private IRA's. Well worth reading:
"Austerity - Part 1 - The 1% Want To Steal Your Social Security, Pres. Obama is helping them" by Joe Shikspack, June 13, 2012.
Post a Comment