Grimm forecast on retiree finances.

I love the news the contradictions are often so plain to see they could get over looked. For example these next two posts are about retirement living and the differences of opinion about money.

For example in this article the writer opens up and states that approximately 60% of retirees will outlive their finances. Resulting in a drastic lifestyle change to keep them financially stable.

The article goes on to say that middle aged Americans need to lower their living expense by 24%. The undeniable results of so many baby boomers retiring in the next few years is causing companies and lawmakers to change the way pension funds are currently administered.

http://www.washingtonpost.com/wp-dyn/content/article/2008/07/12/AR2008071200143.html?nav=emailpage

For the second part of our comparison I wanted to share with you the conservative frugal side of the retirement picture. Where living with the lowering of expenses carves out a nice little safe lifestyle with no frills. Sure it’s expected that as you get older your personal consumption habits may change but you are still accustomed to a certain standard of living. This article covers how to save when you haven’t made enough contribution in the first place.

From my calculations the savings plan they have initiated a whole number just over $128,000. And this is to provide a person with a pension and social security payments a subsidized amount to fill in the missing blanks.

It’s great to know that it’s never too late to start saving but who wants to lower their living standards because of financial limitations. Here are some great comparisons going on as to how much savings is needed at the age of retirement.

http://www.post-gazette.com/pg/07119/781935-68.stm

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Tagged with: finance • finances • land banking • outliving principle • retire • retiree • Ryan Wegman

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