No. of Recommendations: 10
I like the way the Life Insurance Industry trade group tells us that the only way to save ourselves is to buy an annuity.

http://www.courant.com/business/connecticut-insurance/hc-lim...

Windsor-based LIMRA, which used to be called the Life Insurance Marketing and Research Association, has tracked how much people are setting aside for their retirement, what people are expecting from retirement and how those paths are diverging.

In a report last year, the American Academy of Actuaries suggested individuals plan to save $20,000 per year for 25 years, or $500,000. The academy also suggests putting money into an annuity for timed distributions rather than a lump-sum distribution.

</snip>


The median family income in the United States is less than $50,000/year. They're suggesting a 40% saving rate?

I bet you could get by with 20% if you merely avoided the Life Insurance industry's high fees.

intercst
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement