Everyone is Uncertain about Retirement – Everyone


It's an uncertain world when workers think about their retirement years. We simply don't have much money put aside for that.

Nearly half of us have less than $25,000 dollars in savings -- and that's actually an improvement over a few years ago.

Certified Financial Planner Richard Rosso doesn’t like so-called “magic numbers” – like people telling you about needing a half-million dollars to retire.

“Once people come up with numbers -- 500 thousand, a million -- they set themselves up for failure,” he says.

He says most people won't be able to retire on their savings. They will have to consider some alternatives.

“Retiring later, taking Social Security later,” he says, “and not having this magical 500-thousand dollar nest egg that they'll probably never achieve.”

One-in-four Americans have less than $1,000 in savings. That figure was 30 percent just five years ago.


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