Angst in America, Part 3: Retiring Broke

JohnMauldin2 2In the third of this series by John Mauldin, he looks at the long term consequences of the fact that so many Americans have poor retirement. He notes that 33% of Americans have no retirement savings at all; another 23% have less than $10,000; and a further 10% have less than $50,000. So that's 66%, a full two-thirds of Americans, with either no savings at all or not enough to generate significant income. (If you have $50,000 and can pull out 4% a year without drawing down principal – which is hard to do – you'll get something like $160 a month.) Read more