Four in Five Americans Will Fall Short of Retirement Income Needs
05/13/2010 0 comments
Based on an article by aul Menchaca at BankInvestmentConsultant.com, according to a study by Hewitt Associates, "four of five Americans are expected to fall short of meeting all of their financial needs in retirement unless they improve their savings habits or retire at a later age."
As always, save more for later days is essential to achieve better retirement incomes. On the other hand, better managing one's portfolios is even more important. In fact, another study on college savings 529 plans reports that on average, people's 529 investments are losing money in the past 10 years. Thus, not only one did not achieve tax benefit, he has less money than he would have gotten if simply putting money to the bank. This is a somber story one should keep in mind when investing. Finding a sound strategy and sticking to it is imperative before embarking on any such endeavor. Many times, financial service people just want to get people into the door and then leave them in the dark!
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