I received my Social Security Statement today. That lovely little paper that lists "Your Estimated Benefits".
Here's the "wonderful" news that my statement offered:
If I stop working at age 62 (in 2015), I will receive approximately $13,920 per year. That's approximately $6.70 an hour -- about what I was earning 30 years ago!
The good news is that my current income is much higher than that. The bad news is that my standard of living is much higher than that too! So I need to either increase the amount of money available to me when I reach 62 by building my own retirement savings, or I'm going to have to learn how to survive on bread and water like the rest of the retired poor.
Fortunately I have a plan!
Did you know that 58% of baby boomer women have less than $10,000 in retirement savings?
If you're scared to retire, it's time to do something about it!
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1 comment:
Well said.
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