- Posted September 8, 2012 by
This iReport is part of an assignment:
Economy: Are you better off?
- My Ten Sense: What to do when your money is low
- My Ten Sense: Making more money isn’t the answer
- My Ten Sense: 6 keys to couples happily managing their money
- My Ten Sense: Prepare your children so they don’t ask for handouts
- My Ten Sense: 10 things college students should know from student loans to landing their dream job
My Ten Sense: 5 ways to properly prepare for retirement
I meet with retired individuals every day, and it’s eye-opening that most of them can barely pay for their groceries and medications and some are struggling to pay mortgages. And 99% of them don’t even have $100 saved in the bank.
This is inline with U.S. Dept of Labor statistics that 95% of people ages 65 and older can’t afford to retire and live off a combination of Social Security and depending on others, such as family members and government assistance programs.
If you want to be among the 5% of retirees who retire comfortably, read 5 tips on my financial advice blog, www.mytensense.com.