RR: Average Baby Boomer Will Fall Far Short On Their Needed Retirement
What’s an “RR” Post?
One of those things we’re experimenting with on BBH is something I’m calling “Rerun” blog posts.
If you don’t know what those are and why I am doing them, then read this: Information Overload And The Invention Of Blog Post “Reruns” And “Marathons”
This “Rerun” post originally appeared here on May 1, 2012..
Scary Retirement Numbers
“The average baby boomer will fall far short on their necessary retirement income.”
“About 44% short.”
“That’s the grim prediction in a new study by Fidelity Investments which looked at average amounts saved, projected Social Security benefits, home equity and other factors across three demographic groups: baby boomers, Gen-Xers, and Generation Y (aka echo boomers).”
“Like the massive RETIRE Project Georgia State University conducted for decades, the Fidelity study assumes that because some expenses decline once you retire, you don’t need as much income to maintain your standard of living.”
“But that’s about where the similarity ends.”
Click here to continue reading the GSU results on Foxnews.com…
Photo by 401(K) 2013
Related article
- Ever Wondered? Why is the Retirement Age 65? (baybusinesshelp.com)
