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AARP says 25% have No Savings

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Services for Real Estate Pros with ZIP Realty, Inc-Houston District Realtor Lic# 0257193

Did you see this article from AARP?

25% of retirees have no savings

One in four Americans age 50 or older said they had exhausted all
of their savings during the recession, while 67% at least reduced
their retirement savings account balances during the previous
three years, according to a report by the AARP Public Policy
Institute released Tuesday.  More than half, 53%, said they were
not confident that they will have enough money to live
comfortably in retirement.  More than 80% said the economy had
impacted their retirement plans. During the recession, nearly one
third said their home declined substantially in value and one
quarter experienced a job loss.  As a result of their struggles
in recent years, 44% of those above age 50 said that they would
likely work part-time in retirement, while 33% said they expect
to delay retirement. Nearly 13% had returned to the labor force
and were either working or looking for work.  The AARP's Public
Policy Institute polled more than 5,000 Americans -- age 50 and
over -- who were employed, had been employed, or were seeking
employment during the recession. 

Maybe this group will choose to work with us as realtor or maybe we should consider seeking them out to help them build their retirement income?  What do you think?  How can we help?

 

Here is too an awesome 2011

Show All Comments Sort:
John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

That number sounds low to me. I would think it's closer to 40% . . .

Jun 21, 2011 05:47 PM
Simon Webster
CRE Credit Services - Plano, TX

That number sounds low to me as well and not only that I wonder about the 20-40 year olds.  We have been taught to buy things we can't afford and "fake it until we make it" .. or really until you can't afford to fake it anymore.  We charge up your credit cards.  Money=Power.  It is only going to get worse with the way we are doing things now.

Jun 21, 2011 06:21 PM