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6 Don’t Make Me Say I Told You So

The Way It Was The Way It Is
Live 5-10 years in retirement Live 20-30 years or more in retirement
Collect Social Security Questions about the future of
Social Security
Receive guaranteed lifetime pension Pensions are disappearing, others
threatened by underfunding and defaults
Health care covered by former employer Out of pocket health care expenses
and Medicare have increased dramatically
Retirement income from pensions and Retirement funded largely with
Social Security personal savings
76% of pre-retirees intended to work full-time 20% of retirees work past 65, a 57 year high*
or part-time in retirement
Retirement at 65 years old or later Many workers forced to retire earlier than
planned.

*Source: U.S. Bureau of Labor Statistics, 2019

Here is some recent data showing that retirees are more
responsible than ever for providing for their retirement needs:

Major Sources of Retirement Income

3.1%
Earnings
Savings & Investments
15.4%
Pensions
45.2% Social Security
22.3% Other

14%

Source: Morningstar, 2019

Chapter 1: The New Retirement