New data confirms a low national retirement IQ

October 6, 2016 by LifeHealthPro Editors

Although many Americans think they are financially savvy, new data shows how the group closest to retirement, baby boomers, struggles with retirement fundamentals and is not saving enough for their golden years.

New data released by the Indexed Annuity Leadership Council shows that many baby boomers aren’t financially prepared for retirement — they have little saved, are consumed about lifetime income options and don’t know how much money they need to live comfortably.

• 60 percent of baby boomers think they need less than $1 million in retirement, when in reality at least a quarter of a million will be needed for health care costs alone

Click HERE to view the full story via LifeHealthPro; free registration required

Originally Posted at LifeHealthPro on October 6, 2016 by LifeHealthPro Editors.