Wednesday, 22 March 2017

This dangerous mistake will upend your retirement

If you are nearing retirement, overestimating your return potential can mean you don't get to the finish line when you want, or with all you need.
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Straight talk from the money editor
Back in the "good old days," you worked until you reached 65. You had a party, got a gold watch, said farewell to your fellow employees and never looked back. You had a pension, Social Security benefits and some savings, and could fund a reasonably comfortable retirement. Sadly, those days are gone and they are never coming back.
Pension plans have given way to 401(k) plans, and there are concerns that Social Security will no longer be a sure bet. To make matters more "interesting," many Americans are retiring with small nest eggs and little income to live on. In fact, 80% of "average American workers" said they "cannot save enough on their own to guarantee a secure retirement," according to a National Institute on Retirement Security survey. Since knowledge is power and information is liberating, the CNBC personal finance team will continue to supply our audience with high-level, reliable and useful content to help them make smart retirement investment and planning decisions. This will help them generate the income they'll need in those Golden Years. For more cool stuff, follow me on Twitter  @jimpavia.


Jim Pavia
Money Editor
@jimpavia

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Contributors
Sharon Epperson
@sharon_epperson
Josh Brown
@ReformedBroker

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