Friday, July 23, 2010

Will You Run Out of Money?

http://www.secondact.com/2010/07/will-you-run-out-of-money-before-you-run-out-of-years/

A new report by one of the nation's most respected retirement research groups confirms the worst fears of pre-retirement Americans: Many of us are on track to run out of money before we run out of years to live.

That's the top-line finding of the 2010 Retirement Readiness Rating from the Employee Benefit Research Institute (EBRI). The report projects future retirement readiness each year by crunching actual performance data from 24 million actual 401(k) plan participants. EBRI defines "running short of money" as households that won't have enough cash to meet basic expenses or to meet projected uncovered home health care or nursing home expenses.