Another asterisk for that "strong economy": 40% of folks are going to literally run out of money
A good chunk of Americans will outlive their savings if the retirement landscape doesn't change in the country, one expert predicted recently on Yahoo Finance.
That’s why Jason Grumet, founder of the Bipartisan Policy Center, has high hopes for pending legislation in Congress that expands access to workplace retirement accounts.
"We think there’s a real opportunity here, it’s really critical ... because we think about 40% of folks are going to literally run out of money in their retirement,” Grumet told On the Move. “And the current trajectory is likely to get worse, not better."
Grumet’s comments echo the dismal outlook that Americans themselves have about their retirement prospects.
https://www.yahoo.com/money/retirement-americans-run-out-money-214436546.html