Earlier this week, Dan Haylett wrote about a curious conundrum: getting his clients to spend money. Maybe you thought, sure, some clients will have more money than they know what to do with, but what about the vast majority?
While they may not have money coming out of their ears, in the US at least it seems like retirees will be… fine. As reported by MarketWatch, the Congressional Budget Office revealed that from 1979 to 2016, the average incomes for working-age households soared above inflation by 64%. For retirees, that number jumped to 104%.
MarketWatch pointed out that additionally, from 1980 to 2016, benefits from social security and private retirement plans towered over inflation by 50% and 150%, respectively.
Moreover, according to a Gallup pole, 8 out of 10 of retirees stated they possess “‘enough money to live comfortably.'”
Perhaps retirement isn’t as filled with doom and gloom as it’s made out to be.
Read the full article on MarketWatch.
