“The term “retirement crisis” is invoked frequently, but as Scott Burns of the Houston Chronicle recently suggested, it might actually be more accurate to say that what we are currently facing is a retirement triage:
“One-third of households are well equipped to retire. They have multiple sources of income in greater amounts than most people.
One-third of households have assets to work with. They can make decisions that will make a major difference in their retirement security and success. One-third of households are lost causes. They have Social Security but little, or nothing, else.”
“In other words, it would be more helpful to concentrate on hard data on savings and investing trends, rather than whether people are feeling confident that they will have enough money or not. Feelings are real, but numbers speak volumes.”
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