Nov 29, 2012 0
Data from the Center For Retirement Research shows an alarming trend in wealth accumulation and retirement preparedness among Americans. The chart, which contains data going back to 1983, shows a stable pattern of wealth accumulation through the most recent survey in 2010. In 2010, accumulation of wealth dropped among most age groups due to the severe recession and unemployment crisis. The CRR suggests that even if the ratio of wealth to income returns to its historical norm, the fact that funding retirement is significantly more expensive than it used to be, means trouble for future retirees. In short, the CRR warns prospective retirees that having the same amount of assets as your parents won’t be enough to handle the rising costs of retirement. More here.