Why It Was Easier for Your Parents to Retire

People are living longer than ever before, and right now, interest rates are historically low. Good news, right? Yes, but these factors also mean that you need a much larger nest egg to retire today than your parents didYou’ll need to generate retirement income for a longer period, and you can’t count on money-market, savings account or CD rates to generate much interest.

In fact, statistical analysis indicates that it’s almost half as difficult to live off the same amount of money, adjusted for inflation, than it would have been 25 years ago. That means younger workers should save more, and those nearing retirement or in it should engage in financial planning to ensure they’ll have enough retirement income to enjoy their golden years.

 

Read more at Marketwatch.

B135-MN-8-16

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s