“Households run by someone 65 and older spend an average of $45,756 a year, or roughly $3,800 a month.”
This is a rather sobering view of the state of America’s “Retirement Readiness” by John Mauldin of Mauldin Economics. One-in-three Americans have absolutely $0 in retirement savings, and 87% of us have less than $300,000.
Ben Steverman notes that much of the hysteria surrounding the forthcoming retirement crisis is a sale-related scare tactic “that’s moved the tone of the U.S. savings and retirement conversation from a constructive call to action to an alarmist frenzy.” Read the full article >>
Andrea Coombes at The Wall Street Journal’s MarketWatch notes: “Among retirees who are withdrawing money from their retirement accounts, about half of them are doing it without a strategy in place, according to a new survey. That doesn’t bode well for their long-term retirement success.” Read the full article >>
Robert Brokamp notes: “Want to become a millionaire? Then perhaps you should start by studying the behaviors of people who have done it. But don’t worry – you don’t need to stop the next Mercedes you see and ask the driver intrusive questions, because two authors have done all the work for you. One of Read more about Nine Lessons in Wealth-Building[…]
Steve Vernon correctly notes: “There’s only one thing you need to do if you want to be happy during your retirement years. Plan for it. Yep, that’s it. Plan for your retirement, and you’ll be happier.” Read the full article >>