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Half of People Near Retirement Have No Savings

(By – Gail MarksJarvis, Chicago Tribune)

Half of U.S. households headed by a person 55 and over haven’t stashed away any retirement savings. And while old-style pensions will help some of them put food on the table, 29 percent of such households don’t have a pension. The data in a report by the U.S. Government Accountability Office paint a sorry picture of a nation on the verge of massive growth in its retiree population. Between this year and 2030, the number of people over 65 will grow 50 percent to 74 million retirees, accounting for 20 percent of the population. Read more…

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