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Here is how many US households will run out of money in retirement



<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Save too little for retirement is a big fear of the Most Americans, and studies have shown that more Americans fear inadequate pension savings than fear death it is actually very frightening to run out of money, since no one will be without the money they need in the 70s and 80s. is it that you actually run out of money in your retirement age? "data-reaction time =" 11 "> Too little for retirement is a major fear for most Americans, and studies have shown that more Americans fear inadequate retirement savings than fear death. Running out of money is actually very scary, since no one will be without money they need in the 70s and 80s. But how likely is it that you actually run out of money during your retirement years?

<p class = "canvas component canvas text Mb (1

.0em) Mb (0) – sm Mt (0.8em) –sm" type = "text" content = "Unfortunately, research from the Research Institute for Employee Benefit that there is quite a good chance that many Americans will throw some money, in fact, the data on retirement The good news is that if you know the risk of running out of money, you can take some steps to reduce your chances of becoming one of the elderly with too little stored to see you through. & nbsp; "data-reactid =" 12 "> Unfortunately, research from the Research Institute for Employee Benefit shows that there is a pretty good chance that many Americans will get little money . In fact, the data on retirement savings is not surprising. The good news is that if you know the risk of running out of money, you can take a few steps to reduce the chances of you becoming one of the over-aged ones to see you through.

Broken sparging with coins wasting.

Image Source: Getty Images.

How Many American households are going to lack money?

According to the EBRI Retirement Security Projection Model, which was developed in 2003 and has been updated several times since, 40.6% of all US households led by a person aged 35 to 64 are expected to lack money during retirement. This is based on a database of 27 million 401 (k) participants and IRA account holders. This seems like many households are going to go short, but it is actually a decrease of 1.7 percentage points compared to the same model in 2014 – so things get a little better.

Unfortunately, for those families who are likely to run out of cash, the lack is not small. While taking into account social security schemes, the total household deficit for households is led by a person aged 35 to 64, $ 3.83 billion. Again, this is a slight decline from $ 4.44 trillion in 2014, but trillions are not good news for everyone.

When viewed individually, the data becomes even more worrying. In fact, the estimated EBRI average retirement savings are $ 12,640 for widowers, $ 15,782 for widows, $ 24,905 for single men and $ 62,127 for single women. Those who live the longest will also be far worse, with the Americans expecting to live the longest at 10.2 times the pension deficit compared to retirees with the shortest projected lifetimes.

This data should be worrying for everyone, because even if you are not one of the four in 10 Americans who want thousands too little in the Pension Fund, your friends and neighbors are likely among this cohort – and have millions of broken pensioners over The whole country is not exactly good news for the economy.

How can you make sure your household doesn't run out of money?

With such major financial shortcomings, the best solutions are likely to require systemic changes – such as an increase in social security benefits to provide more income for retirees or policy changes that facilitate broader access to retirement plans, as the EBRI found eligibility for the defined contribution plan as 401 (k) or 403 (k), has a significant impact on the pension deficit. For people 35-39 who are not eligible for a deposit-based scheme now or in the future, the pension deficit is expected to be $ 78,046 – which is more than five times the average pension deficit of $ 14,638 that people with 20 years of future eligibility in a deposit-based face.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In a time of political polarization However, major political changes are unlikely, if nothing changes, just make sure you save enough for retirement, and you can't count on 40.6% of households with pension deficits … You should aim to save at least 15% of your earnings including any work orders available to you, to ensure you have the money to support yourself in your senior years. & Nbsp; "data-reactid =" 36 "> In a time of political however, polarization seems broad political changes unlikely. If nothing changes, just make sure you save enough for retirement, the only way you can make sure you're not part of 40.6% of households with retirement losses. You should aim to save at least 15% of your earnings, including an employer match available to you, to ensure you have the money to support yourself in your senior years.

The pension deficit is a major problem

The EBRI data clearly shows that Americans are severely ill-prepared for safe retirement. Large-scale changes are needed, but with less and more to the future, individuals need to make sure they prioritize their own pension savings and find ways to set aside cash for the future.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you can't find a way to save, it's A Very Serious Probability You Will Get Thousands Of Dollars Cards Of The Pension Funds You Need To help you get started, check out your tips to increase the total value you save for retirement to find some ideas to get more money for the future. " data-response time = "39"> If you do not find a way to save, there is a very serious likelihood that you will be tens of thousands of dollars short of the funds you need. To help you get started, check out our tips to increase the overall value you save for retirement to find some ideas for getting more money for the future.

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