More Households at Risk of Insufficient Retirement Income

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A study by the Employee Benefit Research Institute (EBRI) reports that as a result of the financial market and real estate crisis of 2008 and 2009, the percentage of households that have ended up at risk of falling short of retirement income needs ranges from a low of 3.8% to a high of 14.3%. At-risk households were defined as those that would not have enough income to pay for "basic" expenses in retirement as well as uninsured health care costs.

Early Baby Boomers (aged 56 to 62) were hardest hit with nearly half assumed to be newly at risk. According to the study's authors, impacted households can make up for lost time by saving an additional 1% to 4% of income between now and retirement. Read the details of the report at the EBRI site.


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