Why half of households will STILL struggle in retirement

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Even with the run-up in the stock market and housing prices, half of all American households are at significant risk of not being able to maintain their current standard of living after retirement.

That’s the conclusion of a surprising new study released last week by the Center for Retirement Research at Boston College.

That’s only slightly better than the Center’s National Retirement Risk Index showed in 2010, in spite of a 45% inflation-adjusted increase in the stock market and a 6% increase in home prices since then.

In fact, the Center’s research shows the picture is even worse than in 2007, which is why the study concluded…
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Bank On Yourself Round-Up for Week of June 3, 2011

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roundup

Here are summaries of four of the most interesting and thought-provoking items that have crossed my desk this week…

roundup

Forbes Magazine Shocker:  Why your 401(k) isn’t what it’s cracked up to be!

A stunning article appeared in this week’s Forbes.1 Here are a few of the revelations you absolutely must know about, if you participate in a 401(k):

Compare…

How does a 401(k) compare to the Bank On Yourself Method?

Compare…

How does a 401(k) compare to the Bank On Yourself Method?

  • 71% of 401(k) investors believe – wrongly – they pay nothing to participate in their plan, according to a recent survey
  • On average, participants in small plans (which includes 90% of all employees) pay 1.9% in fees annually!
  • Even paying fees of just 1.5% could wipe out one-third of your nest-egg
  • In spite of all the noise about “fixing” the 401(k) through new disclosure rules that will be going into effect, they “could cause some 401(k) services to get even more costly.”

 

Why you need an 8-10% annual return just to break even in your 401(k)…

It’s all documented in this 401(k) exposé I co-wrote with Pulitzer Prize-nominated journalist Dean Rotbart. You owe it to yourself to have the facts!

[Read more…] “Bank On Yourself Round-Up for Week of June 3, 2011”