Topix Underground

"Among American workers age 55 to 64, the median amount saved for retirement is only $30,000, according to the National Institute on Retirement Security."

It's called longevity risk. And six of 10 Americans believe they will outlive their savings, according to a Goldman Sachs survey of working Americans and retirees.

Blame rising costs for competing priorities like owning a home, childcare, college and healthcare — not to mention student loans, food and gas. These bills are consuming a larger share of income, leaving less money to contribute to 401(k)s and IRAs."



Retirement is an antiquated concept.