The retirement crisis in America is real…
According to a recent Bankrate study…
- 20% of Americans have NOTHING saved for retirement
- Another 20% have saved less than 5% of their annual income
- Less than 33% of Americans have saved 11% or more of their annual income.
And the COVID-19 pandemic is about to make it all a lot worse…
A whole lot worse.
According to Richard Johnson – the director of the Program on Retirement Policy at the Urban Institute – the value of Americans’ retirement accounts has shrunk from $18 trillion in 2019 to $14 trillion this year (through April 3).
That’s a staggering 22% decrease!
It’s no wonder that we get dozens of questions from readers each week about how to right the ship…
In this week’s State of the Market video, Chief Income Strategist Marc Lichtenfeld addresses the desperation that many Americans are feeling in relation to their retirement savings.
(And Marc would know. He’s written a couple of books on the topic.)
But what he has to say in his latest YouTube video may shock you…
By: Rachel Gearhart
Title: Feeling Desperate?
Sourced From: investmentu.com/how-to-deal-with-financial-problems-now/
Published Date: Sat, 08 Aug 2020 17:30:54 +0000
Did you miss our previous article…