Americans Are Facing a $3.83 Trillion Retirement Shortfall. Here's What to Do About It
Not having enough money in retirement is a legitimate fear, and one that many Americans may need to grapple with once their time in the workforce comes to a close. It's estimated that 40.6% of U.S. households, where the head of the household is between ages 35 and 64 will run short of money during their senior years, according to the Employee Benefit Research Institute (EBRI). All told, Americans in this age range face a collective $3.83 trillion retirement income deficit when we factor current Social Security benefits into the mix.
Clearly, that's some pretty daunting news. But while the EBRI's model may have a dire forecast on a collective level, that doesn't necessarily mean you'll wind up cash-strapped once your career comes to an end. In fact, if you play your cards right, you may find that you end up retiring with more-than-enough money to pay your bills and enjoy a comfortable lifestyle.
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Source Fool.com
