I just ran across an interesting article on “5 Jaw Dropping Stats About Retirement” and there’s a couple I thought worth sharing.
The first – and probably the one that’s biggest in terms of good news/bad news is this…
Your Retirement Could Last 30 Years!
Of course, the good news here is that should you retire at the classic “hit the golf links” age of 65, odds are that you can reasonably expect to live to 84 or 85. But that’s not all… the Social Security Administration notes that about one of three who reach 65 will live past 90 and about one of seven will reach 95.
So the good news is you could very well spend almost as many years in retirement as you did in the work force.
The bad news, however, is you have to find a way to finance all those green fees – and that’s a bigger bridge to cross than most people imagine.
Here’s another potential (and related) Jaw Dropper…
47% have saved less than $25,000.
Surveys show that most people aren’t just a little unprepared for retirement, they’re dramatically unprepared.
A full 10% of those 55 or older have saved – get this – less than $1,000 for retirement.
Another 6% have saved less than $10,000.
Another 7% have saved less than $25,000.
Thus, in the context of a retirement span that could last 30 years, we’re talking lots of people with nest eggs short more than just a few feathers.
I hope this email doesn’t scare, shock, or depress you.
Because no matter where you are today, you CAN put together a plan that will put you a much stronger path towards the kind of retirement you want. We specialize in making the most of what you have to build the very best foundation for the future possible. Give us a call at 513-563-PLAN (7526) or book online and let’s get started.
Dan Cuprill, CFP®