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Report: Retirees Can Expect Lower Standard of Living
Posted By admin On February 20, 2008 @ 8:29 pm In Economic Crisis | Comments Disabled
Phoenix Business Journal
February 19, 2008
A new report finds that a majority of American workers will not be able to maintain their current standard of living after they retire.
The Center for Retirement Research estimates 61 percent of households are “at risk” of being unable to live the way they would like and pay for their health care when they retire.
The group considers consumers to be “at risk” if their savings, Social Security and pension benefits combined will fall at least 10 percent short of the income needed to support the same standard of living they had while working.
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