The expected retirement age is now 67 up from 60 during the 1990s, and a new low of 38% expect...


The expected retirement age is now 67 up from 60 during the 1990s, and a new low of 38% expect to retire comfortably, according to Gallup. That the workforce participation rate will continue to decline (and take the UE rate with it) doesn't jibe with that poll result. Additionally, 33% expect Social Security to be a major source of income, up from 27% just before the financial crisis.
Comments (5)
  • rjordan89x
    , contributor
    Comments (72) | Send Message
     
    I would have bet that less % of people would be banking on SS....... Scary...... I know I am expecting the best, preparing for the worst......
    30 Apr 2012, 02:57 PM Reply Like
  • TKO
    , contributor
    Comments (156) | Send Message
     
    I expect the worst and prepare for the worst.
    Optimism provides downside.
    30 Apr 2012, 03:01 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    Oh Oh....there are going to be some very sad people out there...all you need is a graph or two to learn how underfunded Social Security is....and plan for something else....but no..our sheeple will vote for the politican that promises them the most....so plan on printing.....lots of printing...but they still will be poor...but they will get their monthly checks...to pay for their $30 loaf of bread.....lol
    30 Apr 2012, 03:00 PM Reply Like
  • WMARKW
    , contributor
    Comments (10765) | Send Message
     
    I don't understand these figures.

     

    Average net worth of 65 and over was $232,000
    http://bit.ly/I0Sz4F

     

    Only 17% of people retiring in 2011 have savings, not including primary residence, over $250k.
    http://bit.ly/z14azL

     

    With $250,000 you can take 10,000 a year out of the bank and give yourself a 2% raise every year so long as you are earning 4% on your portfolio. That sounds like a tough life adding it only to Social Security - and that's for the top 17%.

     

    What about the bottom 83%. Fully 60% of those retiring have less than $50,000 saved. OUCH.

     

    This from a generation whose parents grew up during the depression and who were staunch advocates of college education. I seriously don't understand. What happened?
    30 Apr 2012, 04:02 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    "This from a generation whose parents grew up during the depression and who were staunch advocates of college education. I seriously don't understand. What happened?"

     

    Marketing and consumerism.
    30 Apr 2012, 09:11 PM Reply Like
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