Across My Desk
One of the big concerns today's maturing American's face is having enough money to live through the 10, 20, 30 or more years of retirement. According to a recent survey, however, that worry isn't necessarily shared by all.
In a recent MetLife study of people between the ages of 59 and 71, 83 percent of pre-retirees and nine out of 10 retirees felt certain that they will have enough money to live comfortably until they reach age 85.
According to PLANSPONSOR.com, some of that study's other findings include:
The majority of those interviewed had multiple sources of guaranteed income including Social Security, company pension plans and annuities.
Many pre-retirees and retirees were not as informed as they should be about the financial risks of longevity risk and had not taken steps to be certain they'd have enough money to last. Thirty-four percent had not figured out how much monthly income they would need in retirement.
Most, (63%), expect to spend less in retirement than they did during the years leading up to retirement.
And, 55% percent of pre-retirees and 53% of retirees have invested part of their assets in annuities.
Bottom line: Living is expensive. Save as much as you can to insure your golden years are indeed golden years.
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