WTVY  | National  | News, Weather, Sports

Study: Most U.S. Seniors Can't Afford Retirement

By: CNN
By: CNN

A study finds senior citizens in nearly every state in the U.S. are falling short when it comes to affording their golden years.

Nationwide, seniors are living off a median household income of just over $35,000. That's about 57-percent of the median income of their younger counterparts ages 45 to 64.

Only seniors in Nevada and Hawaii have median annual incomes that meet the savings benchmark commonly recommended by financial planners.

Typically, planners recommend that retirees save enough to replace at least 70 percent of their pre-retirement income.

The analysis of 2011 U.S. Census Bureau data was conducted by interest.com, a financial information website owned by bankrate.com.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 210863881 - wtvy.com/a?a=210863881