Originally posted on Motherhealth Senior Care, Financial and Health Makeover:
And, certainly, what Americans have put away for retirement is paltry. Unless we all start saving like crazy, the pundits say, we’ll have nothing to live on during our so-called golden years. Or we’ll all have to work into our eighties — if they let us.
But maybe we should look at it another way. For most Americans, Social Security will be their primary source of retirement income. Everything else — IRAs, 401k’s, even some old-fashioned defined-benefit pension plans — will be icing on a not-very-rich cake.
The reasons are clear. Tens of millions of Americans don’t have access to 401k’s or other retirement plans at work. And millions of families are barely earning enough to cover their current needs, let alone save for retirement.
Suggesting that Social Security…
View original 837 more words