According to David Littell, the Director of the New York Life
Center for Retirement Income that Americans are struggling to come up with
answers on basic retirement planning questions such as long term care planning,
longevity, Social Security benefits, annuities and retirement investments.
Only 85% of respondents are familiar with the cost of long
term care and healthcare in retirement. But what’s really alarming is the fact
that only one in four respondents are aware that about 70% of people who are 65
and above will require long term care. This only shows that that are not
prepared for what’s about to come and will most likely face big financial woes
in the future.
The combination of overconfidence and misconception will
definitely hurt your life after retirement. So this should be addressed right
away in order to avoid making misinformed decisions.
No comments:
Post a Comment