We are supposed to look forward to our golden years,
right? Do a little traveling, play with the grand kids, host dominoes
nights. Yet, increasingly, that isn't what some Americans are
experiencing. What's going on?
In American society, our expectations have risen over the decades,
and we expect to command enough money to live as well as during our
working years. But as pensions go away and interest rates drop, reality
is changing. So what has happened to our retirement plans -- or lack of
them?
A new study brings to light 15 frightening facts about how swiftly the
U.S. retirement scenario is changing. Dwindling saving patterns seem to
be sweeping away the image of the relaxing "golden years" and replacing
them with a harsh reality.
[InvestingAnswers Feature: 7 Little-Known Reasons Your Retirement Calculation Is Dangerously Wrong]
In earlier years, no one envisioned working past 65. Now it's
becoming quite common. And when prospects and savings don't work out,
what remains are high hopes of finding work in later years, even if the
hopes are unrealistic.
The new information begs the question, what lifestyle will America's elderly have in 20 or 30 years? (more)
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