Undisciplined on Nostr: Gen X and Retirement Benefits: Uncertainty Abounds ...
Gen X and Retirement Benefits: Uncertainty Abounds
https://mises.org/mises-wire/gen-x-and-retirement-benefits-uncertainty-abounds
By Jane L. Johnson
> As people from Generation X move toward retirement, they are starting to understand that Social Security really is in crisis and many public pension plans are underfunded.
- Many of the Gen X-ers surveyed say that they can’t afford to retire at 65; and a quarter of those without a 401(k) account don’t expect to ever retire at all
- 44 percent say they currently have a plan for how they will take income in retirement
- 48 percent worry they will be forced to live too frugally and not enjoy retirement as much
- 45 percent worry about how to best take distributions from their retirement savings for income during retirement
- 35% worry that they will outlive their retirement plan assets
- Nearly half have done no retirement planning
- They predict they will need an average $1,069,746 in savings in order to retire comfortably, yet they expect to have just $602,944 saved by then
originally posted at https://stacker.news/items/857743
https://mises.org/mises-wire/gen-x-and-retirement-benefits-uncertainty-abounds
By Jane L. Johnson
> As people from Generation X move toward retirement, they are starting to understand that Social Security really is in crisis and many public pension plans are underfunded.
- Many of the Gen X-ers surveyed say that they can’t afford to retire at 65; and a quarter of those without a 401(k) account don’t expect to ever retire at all
- 44 percent say they currently have a plan for how they will take income in retirement
- 48 percent worry they will be forced to live too frugally and not enjoy retirement as much
- 45 percent worry about how to best take distributions from their retirement savings for income during retirement
- 35% worry that they will outlive their retirement plan assets
- Nearly half have done no retirement planning
- They predict they will need an average $1,069,746 in savings in order to retire comfortably, yet they expect to have just $602,944 saved by then
originally posted at https://stacker.news/items/857743