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State of the Union: Welcome to McDonalds, May I Take Your Order?

“A plethora of recent studies show that when it comes to retirement, we definitely don’t have our financial house in order.

And it’s an issue near the top of many Americans’ minds. An April poll from Gallup http://www.moneynews.com/Personal-Finance/retire-savings-Gallup-debt/2014/04/23/id/567278/ indicated that 59 percent of adults are moderately or very worried about not having enough money for retirement.

For example, the National Retirement Risk Index from Boston College’s Center for Retirement Research shows that 53 percent of households risk falling at least 10 percent short of the retirement income needed to maintain their standard of living. 

In addition, the Employee Benefit Research Institute (EBRI) finds that more than 40 percent of retirees are at risk of running out of money for daily needs, out-of-pocket spending on healthcare or long-term care, according to The Fiscal Times.

The three areas that many of us expected to fund our retirement now appear at risk, The Times reports. That’s Social Security, personal savings and employer-sponsored pensions…..”

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