Retirement Security Not So Secure Anymore
Wednesday, July 21, 2010
Millions of Americans are not ready for retirement, according to Dallas Salisbury, president of the Alliance for Investor Education and the Employee Benefit Research Institute. The numbers Salisbury provided to AlterNet are startling:
One-third of all workers have only Social Security to look forward to, with no savings of their own. About 35% of retirees rely almost entirely on Social Security.
As for the other two-thirds of working Americans, 27% have less than $1,000 in savings, 16% between $1,000-$9,999, 11% between $10,000-$24,999, 12% between $25,000-$49,999, and 36% have $50,000 or more.
-Noel Brinkerhoff
The Retirement Nightmare: Half of Americans Have Less Than $2,000 Banked for Their Golden Years (by Scott Thrill, AlterNet)
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