Danger of delayed retirement very real for many

Many Americans now find themselves faced with the very real possibility of having to work well into their 80’s.

According to a recent article:

According to a survey by the Employee Benefit Research Institute, 56% of workers say they have less than $25,000 in savings. This figure is deeply distressing, given how expensive retirement promises to be: Assuming 3% inflation and a 5% annual return from investments, a 65-year-old will need to have $1.1 million saved in order to net an income of $50,000 a year in inflation-adjusted dollars.

See full article from DailyFinance:http://www.dailyfinance.com/2011/12/05/were-not-ready-more-bad-news-about-retirement/?icid=maing-grid7|main5|dl5|sec1_lnk2|117874&icid=sphere_copyright

 

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About UWF Center on Aging

The Center on Aging at the University of West Florida was established in the Fall of 2010 when the School of Psychological and Behavioral Sciences faculty along with assistance from Sponsored Research submitted a grant to the State University System Board of Governors in support of aging initiatives for Northwest Florida. Its mission is to improve the quality of life of aging adults through the application of science to address challenges associated with aging and to promote healthy aging, with an emphasis on prevention. This will be accomplished through inter-disciplinary and inter-professional efforts of basic and applied research, consultation, and partnerships with community agencies. Education and training, direct services to the aging population, and public awareness and understanding of the contributions and needs of elders will be primary objectives.
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