More than half, or 52%, of American families are “at risk” of not having enough assets to maintain their lifestyles into retirement, according to the National Retirement Risk Index, a measurement tracked by the Boston College’s Center for Retirement Research.

“It’s not uncommon for us to see even high-earning people, who are used to spending what they make, come in and say, ‘I want to retire yesterday,’ and they have all sorts of ideas about spending even more money. And it’s just not going to work out,” says Patricia F. Raskob, president of Raskob Kambourian Financial Advisors in Tucson, Ariz.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access