10 scary retirement statistics
From: lifehealthpro.com
While some (very few) industry experts say there’s little or nothing to fear on the retirement front, deep down inside we all know it’s not true.
How else to explain how worried everyone is about retirement?
Insecurity on the job (or a complete absence of employment), low and frozen salaries, high expenses and unpredictable markets have thrown people into a tizzy over how they’re going to afford to retire, or how they might be able to cheat their retirement demons by continuing to work.
Why, it’s enough to give a person gray hair (assuming they don’t have it already).
And now a new report from the National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) has provided a whole host of statistics that is just about guaranteed to strike terror into the heart of anyone who’s ever contemplated retirement — even as an intellectual exercise.
It certainly has done so for them; here’s their opening sentence: “The unfortunate state of Americans’ financial preparedness for retirement is well-documented, and may be summed in two words: NOT READY.” (Bold caps theirs, by the way.)
One thing they’re super-worried about is the looming disaster of health care costs for retirees — something that they say nobody is ready for, and that most people don’t even seem to realize will become a major problem.
