Retirement Crisis Looming?

RegisteredRep says, according to recent data from the Joint Center for Housing Studies at Harvard University, 80 percent of Americans over 65 are homeowners, and the Census Bureau notes 65 percent are mortgage free. At the same time, The Urban Institute has determined that 40 percent of those born 1956 to 1965–the late boomers—will be 70 percent short of the income they earned from ages 50-64 when they turn 70. Worries about jobs and debt has driven down Americans confidence that they will be able to retire comfortably, says the Employee Benefit Research Institute (EBRI), adding that 56 percent have not tried to determine the resources they will need in retirement.

(Photo credit: LECESSE–Good Shepherd at Endwell retirement center)

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