Those who continue to doubt that the country is facing a retirement crisis are going to have to overcome the Employee Benefit Research Institute’s latest daunting estimate, which puts the aggregate retirement shortfall at $4.13 trillion.
And that’s the favorable figure, which assumes politicians are able to strike a deal to shore up Social Security before the trust fund’s projected depletion, in 2033.
Variations in readiness vary by demographic, of course. For those early baby boomers on the verge of retirement, the savings deficit for married households is $19,304 (per individual), $33,778 for single males and $62,734 for single females, according to EBRI’s figures.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
