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Retirement crisis ahead
Nearly half of americans(43.6%) do not have enough savings to
cover basic expenses if they were to lose their source of stable
income.
These 132.1 million "liquid asset poor" American include many
members of middle class and upper middle class;more than a quarter of households earning between $55,465 and $90,000 per
year - the entire range of which is above the median household
income of $50,054 - have less than 3 months of liquid savings.
Over 30% of all households do not have a savings account at all.
--From "Dow 15,000 and retirement crisis ahead" by Matt Miller
, Washington Post, May 8, 2013.
-----
There are a lot of crises now, already, we know too well.
But when this retirement crisis arrives, I am wondering what
will happen to each one of us. Maybe, old Asian style of saving
habits was, is, will be wise. Any other ideas?
cover basic expenses if they were to lose their source of stable
income.
These 132.1 million "liquid asset poor" American include many
members of middle class and upper middle class;more than a quarter of households earning between $55,465 and $90,000 per
year - the entire range of which is above the median household
income of $50,054 - have less than 3 months of liquid savings.
Over 30% of all households do not have a savings account at all.
--From "Dow 15,000 and retirement crisis ahead" by Matt Miller
, Washington Post, May 8, 2013.
-----
There are a lot of crises now, already, we know too well.
But when this retirement crisis arrives, I am wondering what
will happen to each one of us. Maybe, old Asian style of saving
habits was, is, will be wise. Any other ideas?
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