What’s worse than having to work until 70 instead of 65 before you can safely afford to retire? Not knowing if even that will be enough.
New research from the Employee Benefit Research Institute indicates that, for one-third of households ages 30 to 59 in 2007, working until one’s eighth decade will not provide sufficient savings. The projection model in the EBRI report, based on millions of real-life 401(k) participants, shows large swaths of the baby boomer and Generation X populations run short of estimated expenses.
