Friday, August 23, 2013

$12,000 For Retirement - How Many Months Can you Live?

A stunning graphic below from the National Institute on Retirement Security finds that the median American household aged 55 to 64 has $12,000 in savings. That means that half of the households in America in that age group have less than $12,000 in savings.

Every one of these families is counting on both social security and medicare to support them through the remainder of their life. For a country that has already crossed above 100% debt to GDP, a reasonable question can be asked regarding where this money may come from? Click for larger image:

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