It’s no surprise to learn that many Americans are behind on saving for retirement.
But they shrug it off, rationalizing that they’ll deal with the shortfall by just working longer.
But unfortunately, life doesn’t always work out the way they’ve planned.
Here’s what happens – in real life – to these not so carefully laid plans.
50% of all retirees surveyed by the Employee Benefit Research Institute had to stop working earlier than they had originally anticipated.
- 60% cited health problems or disability.
- 27% retired early due to changes at their company.
- 22% had to retire to care for a family member.
The moral of the story?
You can’t always control how long you will be able to work.
So don’t put off saving until tomorrow. When it comes to saving for retirement, tomorrow may be too late.