The National Retirement Risk Index has shown that even if households work to age 65 and annuitize all their financial assets, including the receipts from reverse mortgages on their homes, 44 percent will be ‘at risk’ of being unable to maintain their standard of living in retirement. More realistic assumptions regarding earlier retirement and reluctance to annuitize 401(k) balances or tap housing equity would put the percentage ‘at risk’ even higher. But these previous analyses have not addressed rapidly rising health care costs. When these costs are included explicitly, the percentage of households ‘at risk’ increases dramatically...
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Publisher Info
Paper provided by Center for Retirement Research in its series Issues in Brief with number
ib2008-8-3.