Alarming Retirement Statistics

Retirement Statistics

Statistics That May Affect Your Retirement

If ever there was a case for proper retirement planning and the implementation of no-risk annuities into your strategy, perhaps these facts illustrate the point:

1.  56% of retirees polled indicate that they were NOT debt-free when they retired (Source: CESI Debt Solutions)

2.  In the last 7 years, our National Debt has equaled the National Debt accrued during the entire previous history of the United States.  On 4/30/04 the debt was $7.13 Trillion and on 4/30/11 it had escalated to $14.29 Trillion.  (Source: Treasury Department)  Does this support the argument of taxes going up in the future?

3.  Medicare Part A (hospital coverage) is predicted to be depleted by 2024.  Just one year ago, the depletion date was estimated at 2029.  (Source: Medicare Trustees)

4.  Unemployment benefits paid to out of work Americans have increased by 5 times in the past 4 years, which again points towards rising taxes to cover these costs.  (Source: Department of Labor)

5.  Only 40% of workers age 56-65 believe they will be able to withdraw 7% of their retirement funds annually and NOT outlive their money.  (Source:  MetLife Retirement Income IQ)

6.  In 2009, 42% of Federal Income Tax returns filed paid no taxes.  Compare this to 1979 when only 23% of returns had no tax liability.  Is it reasonable to assume that more people paying zero taxes leads to tax increases for those who do pay?  (Source: Internal Revenue Service)

 

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