Would you rather run out of retirement income or die?
According to a recent survey by Allianz Life 61 percent of the 3,200 baby boomers and retirees (ages 44 to 75) said they feared outliving their retirement income more than they dreaded dying.
More than 90 percent of baby boomers feel the United States is facing a retirement crisis. Respondents indicated that they were aware that they may be contributing to that crisis by not saving enough so that they have an adequate retirement income:
According to a recent survey by Allianz Life 61 percent of the 3,200 baby boomers and retirees (ages 44 to 75) said they feared outliving their retirement income more than they dreaded dying.
More than 90 percent of baby boomers feel the United States is facing a retirement crisis. Respondents indicated that they were aware that they may be contributing to that crisis by not saving enough so that they have an adequate retirement income:
It appears that few retirees have asked that important question: How Much Do I Need to Retire?
Most of the soon-to-be-retired said they don’t know how much retirement income they will require once they retire and they fear that they will outlive their retirement income.
The study, titled “Reclaiming the Future: Challenging Retirement Income Perceptions,” was conducted in May 2010 for Golden Valley-based Allianz.
Respondents also said they expect a lot from retirement — 79 percent said their retirement lifestyle must surpass their parents’. (In my opinion, these people are nuts - delusional, in fact.)
Survey results showed that the median annual retirement income retirees and the soon-to-be retired targeted is $59,000, but baby boomers’ savings are on track to provide only about $20,000 (one third of that retirement income that they would like).
Most of the soon-to-be-retired said they don’t know how much retirement income they will require once they retire and they fear that they will outlive their retirement income.
The study, titled “Reclaiming the Future: Challenging Retirement Income Perceptions,” was conducted in May 2010 for Golden Valley-based Allianz.
Respondents also said they expect a lot from retirement — 79 percent said their retirement lifestyle must surpass their parents’. (In my opinion, these people are nuts - delusional, in fact.)
Survey results showed that the median annual retirement income retirees and the soon-to-be retired targeted is $59,000, but baby boomers’ savings are on track to provide only about $20,000 (one third of that retirement income that they would like).
Perhaps some of these retirees can take up writing and self-publishing books as one of many retirement jobs to pursue as I have done to provide me with a residual retirement income for many years.
This is an e-mail that I sent to one of my friends about how he can retire with a little more retirement income:
This is an e-mail that I sent to one of my friends about how he can retire with a little more retirement income:
- Hey Frank:
If you lose your job, you can move to B.C. to live with Jennifer, and sue your kids for support.
No doubt Jennifer would be proud of you having your own income in retirement.
Check out this article about parents suing their children for support.
http://lifestyle.ca.msn.com/family-parenting/moms-dads/rogers-article.aspx?cp-documentid=24682220
- See, you are richer than me because I have no kids to sue.
And you know what that means if you sue your kids successfully.
More money for beer ! ! ! ! ! !
Ernie Z.
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