The author of today’s article divides the 10,000 baby boomers that are turning 65 each day into two groups: those that will depend on Social Security as a major source of income in retirement and those that have more savings and will therefore be less reliant on Social Security. To those in the latter group, however, she cautions that “it’s too soon to pat yourself on the back and relax. You need a retirement war chest unless you’re in the top 1% of net worth and/or you have amazingly generous pensions.” As such, she lays out a series of do’s and don’ts for navigating “the coming retirement crisis” (e.g. Do retire as late as you can. Don’t drain retirement savings to support aging parents). To read more, CLICK HERE.
