Study: 43% won't have enough in retirement

[retire@40]

A new risk index suggests many won't be able to afford their current lifestyle in retirement, but a little extra work or savings would help a lot.
By Jeanne Sahadi, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) – A new retirement risk index released Tuesday estimates that 43 percent of working-age households are not likely to have enough retirement income to replicate their current standard of living.

http://money.cnn.com/2006/06/06/reti...ex.htm?cnn=yes

I wonder if they will be talking about this in the high schools to give kids a heads up. I doubt it. Not that all the kids would listen or care, but I'm sure it could help some future ER Forum members.

[LOL!]

It's been discussed ad nauseum that it is rare for folks to replicate their current standard of living in retirement. The Scott Burns article is just a recent manifestation of this.

I believe if you look back in time, you will find that 40 to 60% of working households at any given time in American history (1820, 1850, 1900, 1920, 1950, 1960, etc) were not able to replicate their lifestyle in retirement.

Yawn.

[astromeria]

I bet a lot of us looked like we weren't gonna make it 10 or 20 years before we FIREd because savings really snowball over the years. While we boomers are less likely to have good pensions, we're more likely to have good-paying jobs than the generation preceding us--and fewer children.