Retirees Running Out of Money

[pennypinch]

I read something about how many retirees face running out of money! Thats a very scary though. What will happen if they do. Many cannot go back to work and even the ones who could physically work there aren't that many jobs available.

They say that some retirees will outlive their assets!

"The risk that retirees will outlive their assets is a growing challenge," according to a study from the Government Accountability Office released this month. Increased life expectancies and health-care costs coupled with declines in financial markets and home equity over the last few years have "intensified" workers' concerns about how to manage their savings in retirement, the report said.

I think all people are going to have to wait longer to retire. I don't see any way around it. Heck, I will probably have to work until the day I die!

[dimetime]

This is a serious problem and I have to agree, most people are gonna have to work until death to be able to make ends meet with the way things are going now. I feel for those who are facing this problem right now.

The costs of living along with medical bills, perscription drugs all going up it is no wonder this is happening to seniors. Though it is something we all have to think about much earlier in life if we want to prevent it from happening to us.

Just think what the children now are gonna have to face when they are much older. Chances are it is going to be even worse for them.