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Average Retiree Faces 7 Years Of Poverty At The End, Study Says

Thursday, February 21, 2013 - 6:35 PM
It’s not exactly a secret Americans are coming up short when it comes to retirement savings. But until now economists really couldn’t put a hard and fast number on the financial challenges Americans faced. A study provides some clarity. U.S. retirees, HSBC Group reports, are looking at seven full years of low or no income in retirement.

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ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,527
1. Saturday, February 23, 2013 - 9:15 PM
"Lousy job??"  Are retirees doing a lousy job if they are the ones sticking with CDs?  That article must be written by someone who makes their living selling stocks, bonds etc. etc.  I have to laugh about the "last seven years thing".  Are they physic too?  Who knows when their last seven years will be?  What if they end their journey in this life early in life?  I think the article is an insult to savers by taking it for granted they are not doing a good job of handling their savings.  If they can tell me when my last "seven" years will be, I will go on a spending spree! :)   Just stating that many savers are not saving enough would have gotten the point across but what is the bit about the "last 7 years?"

These "studies" are usually written to benefit people who can convince us we need to change our ways.  I'm not young enough to change.  (And also too stubborn.)
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135