We’ve all heard of the classic three-legged retirement income stool: pensions, social security, and personal savings. Unfortunately for many upcoming retirees, that three-legged stool only has one leg. That’s personal savings.<\/p>\n
In a Social Security Administration 2012 study*, 35 beneficiaries received benefits per 100 workers paying into Social Security (e.g., FICA) in 2011. In 2050, that ratio will get worse: we’ll have 49 beneficiaries per 100 workers.<\/p>\n
The Congressional Budget Office estimated* that beneficiaries in 2033 may get smacked by rising plan costs. Their benefits may be delayed, or not paid at all.<\/p>\n
What about pensions? In 1989, 42% of private industry employees had pensions. In 2011, only 22% (and 1 in 4 of those plans were closed to new employees).<\/p>\n
Both Social Security and Pensions promise to guarantee an income stream for the rest of a retiree’s life. But it’s clear these two legs are wobbly.<\/p>\n
The last leg may also break for millions of Americans. In an Employee Benefit Research Institute 2010 study*, the average retirement account balance was $69,498. Considering that a healthly couple turning 65 this year faces — on avreage — over $300K in medical expenses, $69K in savings won’t last long.<\/p>\n
Beat the odds — don’t sabotage the last leg you’ve got in retirement.
\n[list list_style=”orangeTick”]\n
* Sources: We’ve all heard of the classic three-legged retirement income stool: pensions, social security, and personal savings. Unfortunately for many upcoming retirees, that three-legged stool only has one leg. That’s personal savings. In a Social […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,64,13],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts\/3716"}],"collection":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/comments?post=3716"}],"version-history":[{"count":8,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts\/3716\/revisions"}],"predecessor-version":[{"id":3879,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts\/3716\/revisions\/3879"}],"wp:attachment":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/media?parent=3716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/categories?post=3716"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/tags?post=3716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, Social Security Administration, April 2012<\/em>
\n
\nLong-Term Projections for Social Security, Congressional Budget Office, August 2011<\/em>
\n
\nStudy of Retirement Account Balances, Employee Benefit Research Institute, 2010<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"