Holi crapoli, too many folks are nearly broke!-----Six Challenges to Retirement Security

Six Challenges to Retirement Security:

1. Many Americans lack the income or resources to save for short-term needs — so they raid their retirement accounts. "Unfortunately, many Americans are unable to save because they have low earnings, coupled with immediate demands that consume all of their income," according to the report (see chart below). "But the problem is broader than that. Nearly half of individuals say that they could not come up with $2,000 in 30 days without selling possessions or taking out payday loans." 
   
2. Americans are increasingly at risk of outliving their savings. Overall life expectancy among Americans who live to 65 has risen from 79 in 1940 to 85 in 2014. Over the next 25 years, the number of people age 85 and older will more than double. "Today, working Americans who want to retire at the same age as was typical of previous generations must save more to cover additional years of consumption in retirement," the report warns.