Falling Short: The Coming Retirement Crisis and What to Do by Charles D. Ellis,Alicia H. Munnell,Andrew D. Eschtruth

By Charles D. Ellis,Alicia H. Munnell,Andrew D. Eschtruth

the us faces a significant retirement problem. a lot of ultra-modern staff will lack the assets to retire at conventional a long time and continue their way of life in retirement. fixing the matter is a tremendous problem in contemporary setting within which possibility and accountability have shifted from govt and employers to contributors. for that reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise advisor for an individual focused on their very own - and the nation's - retirement security.

Falling brief is grounded in sound learn but written in a hugely obtainable kind. The authors supply a bright photo of the retirement problem in the USA. they give the required context for knowing the character and measurement of the retirement source of revenue shortfall, that is attributable to either expanding source of revenue needs-due to longer lifespans and emerging overall healthiness costs-and lowering help from Social safeguard and employer-sponsored pension plans.

The suggestions are to paintings longer and keep extra via development at the present retirement approach. To paintings longer, members may still plan to stick within the exertions strength until eventually age 70 if attainable. to save lots of extra, policymakers should still shore up Social Security's long term funds; make all 401(k) plans absolutely computerized, with employees allowed to choose out; and confirm that everybody has entry to a retirement discount rates plan. members also needs to realize that their home is a resource of saving, which they could faucet in retirement via downsizing or a opposite mortgage.

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