Are Retirees Trapped?

August 2004
Journal of Financial Planning;Aug2004, Vol. 17 Issue 8, p19
Academic Journal
According to a study by Golden Retirement Resources Inc., over six in ten U.S. retirees felt they have retirement plans that did not allow them to respond to market pressures or personal life events between 1999 and 2004. The study also found that 83 percent were unable to generate sufficient retirement income due to falling portfolio values, falling interest rates, or increased living expenses. 51 percent of the respondents were affected by a reduction in portfolio values, and 47 percent were affected by declining interest rates. 83 percent of those already retired or partially retired found their income needs stressed by personal events such as declining health, illness or job loss. 34 percent of respondents reported restricting their spending severely. 50 percent of the participants had to spend more of their own money on healthcare or home care than anticipated.


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