April 25, 2017
GOD BLESS TED BENNA:
Are Americans saving enough for their retirement years? (AEI, 4/25/17)
An economist and expert on retirement issues, American Enterprise Institute resident scholar Andrew Biggs...explains why Americans are "doing just fine," when it comes to saving for their retirement. In particular, he points out that: [...]• From 1981 to 2016, per the Federal Reserve, the total balances of 401(k)s, traditional pensions, IRAs, and other retirement plans, rose to 153% of GDP. In 1981, savings were one-third the current level. [...]• From 1984 to 2007, the real incomes of retirees rose by 58% thanks to benefits from private retirement plans. And new research shows that the income of retirees with a median age of 66 to 72 was equal to 96% of their after-tax income just before retirement.
Posted by Orrin Judd at April 25, 2017 11:59 AM