Tuesday, November 10, 2009

New Study Bears Grim News for Boomers Near Retirement

The Center for Retirement Research at Boston College just updated its National Risk Index. And it’s not a pretty picture … This study measures how prepared Americans are for retirement. It looks at households’ financial assets, housing and changes in Social Security benefits. And it concluded that 51% of Americans aren’t prepared to retire at age 65. That up from 44% in 2007. But hold onto to your hat fellow Boomers … those numbers don’t include the costs for heath care or long-term-care! If they were, a downright depressing 70% of Americans won’t be able to retire. Costa Rica is looking better and better with each passing day. In the meantime, though, reduce your debts as quickly as possible. Cut up those credit cards and sock as much as you can into your 401(k) and IRA. And by all means learn how to protect your wealth against the greatest risk you face. Click here to learn more. Best wishes, George

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