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In reply to the discussion: WEE December 4, 2015 I'll start......I'll start with some...... [View all]Proserpina
(2,352 posts)53. Baby Boomers' Social Security Woes Summed Up in 1 Chart
http://www.fool.com/retirement/general/2015/12/06/baby-boomers-social-security-woes-summed-up-in-1-c.aspx?source=eogyholnk0000001&utm_source=yahoo&utm_medium=feed&utm_campaign=article&ref=yfp
Just how much trouble could baby boomers be in come retirement? This chart says it all.
Baby boomers' Social Security woes summed up in one chart
In general, the Social Security Administration suggests that retired worker benefits are only designed to replace 40% of a workers' wages. Thus, boomers expecting to replace more than 40% of their income with Social Security benefits may not be able to meet their day-to-day or month-to-month living expenses.
A study released in September from AARP, Perspectives of Future Social Security Beneficiaries Ages 45-64: Detailed Findings, primarily questioned boomer-age adults regarding their priorities and expectations during retirement as it relates to Social Security, their knowledge of the program, and their expectation of solvency for the program. One question in particular probed pre-retirees ages 45 to 64 on what share of income Social Security was expected to make up in terms of household income in retirement. Of the 1,170 people surveyed, here were the responses:
well, since government destroyed the saving route, and business and government destroyed the private pension route, I guess business and government will have to make it up by funding Social Security to be 90% replacement....
feeble recommendations that won't help at link
Just how much trouble could baby boomers be in come retirement? This chart says it all.
Baby boomers' Social Security woes summed up in one chart
In general, the Social Security Administration suggests that retired worker benefits are only designed to replace 40% of a workers' wages. Thus, boomers expecting to replace more than 40% of their income with Social Security benefits may not be able to meet their day-to-day or month-to-month living expenses.
A study released in September from AARP, Perspectives of Future Social Security Beneficiaries Ages 45-64: Detailed Findings, primarily questioned boomer-age adults regarding their priorities and expectations during retirement as it relates to Social Security, their knowledge of the program, and their expectation of solvency for the program. One question in particular probed pre-retirees ages 45 to 64 on what share of income Social Security was expected to make up in terms of household income in retirement. Of the 1,170 people surveyed, here were the responses:
well, since government destroyed the saving route, and business and government destroyed the private pension route, I guess business and government will have to make it up by funding Social Security to be 90% replacement....
feeble recommendations that won't help at link
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I can't believe she got a time out for posting a legitimate article from a legitimate source.
mother earth
Dec 2015
#19
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Proserpina
Dec 2015
#38