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Interest.Com Study: Retirement Income Lags In Most States

Monday, June 10, 2013 - 9:25 AM
A study by Interest.com has found that seniors are falling far short of what they need in almost every state in the nation.

There are only two states, Hawaii and Nevada, where households of those 65 and over are making at least 70% of the income earned by households between 45 and 64 years of age, according to an analysis of Census Bureau data. In the vast majority of states, these households earn just 50% to 60% of the income of those in the age group immediately below them.

Interest.com Study: Retirement income lags in states | Interest.com

Here we have yet another study. How does this study correlate with the results of a Gallup Poll, mentioned in a previous post, which indicated that "75% of retirees report that they are financially comfortable right now"?

http://www.depositaccounts.com/fo...y-much.htm
6
ShorebreakShorebreak2,602 posts since
Apr 6, 2010
Rep Points: 14,080
1. Monday, June 10, 2013 - 11:01 AM
"Here we have yet another study. How does this study correlate with the results of a Gallup Poll, mentioned in a previous post, which indicated that "75% of retirees report that they are financially comfortable right now"?"

Good question, SB.  Let me give it a try:

Reason #1: Do not trust too much in these studies.  These studies vary depending on (1) purpose of study, (2) statistical approaches, (3) sampling population (e.g., random or targeted), (4) statistical errors due to small sampling space and smapling population.

Reason #2: These two studies at hand are not really conflicting with each other.  The first may show the grim reality while the second may show the wishful thinking/mirage people "feel."  Note that "feeling comfortable" in Study #2 is a qualitative description, is totally different from the quantitative descriptions in Study #1.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,425
2. Monday, June 10, 2013 - 3:17 PM
Both good reasons. Thanks.
5
ShorebreakShorebreak2,602 posts since
Apr 6, 2010
Rep Points: 14,080
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