The percentage of Americans who will not have enough money for retirement is increasing. Jim Rohn says that we must learn to plant in the spring or learn to beg in the fall. So I guess we have to ask ourselves whether we are a planter or a beggar.
From Ted Harris, Calling All Bulls, March 2006:
Sixty-one percent of Americans ages 41-60 say their number one fear regarding retirement is outliving retirement money. Twenty-eight percent of investors anticipate running out of money during their retirement. Thirty-one percent of affluent Americans – average investable assets of $905,000 – have never met with a financial advisor regarding retirement planning. To remedy the situation, 65 percent of them will reduce spending in retirement, 63 percent will work longer than originally planned and 29 percent are likely to pursue a more aggressive investment strategy.
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