With 77 million baby boomers preparing to retire, a new and serious retirement challenge is emerging. As Americans live longer and the shift away from traditional pensions continues, growing numbers are facing the difficult challenge of managing their retirement savings on their own. And managing them so their savings, together with Social Security, provide an adequate and steady stream of income for 20 or 30 or more years.
The risks? Millions of retirees could be forced to live on less and less income in retirement – even careful savers could experience declines in standard of living. If not addressed, the impact on retirees and the already stretched social-services programs run by local, state and federal governments that serve them will be profound. LEARN MORE
The good news is that there are ways Congress can help. Encouraging more savings is an important first step, but it's not enough. Americans for Secure Retirement supports legislation that would empower Americans to maintain their standard of living through retirement. Specifically, that means making it easier for them to secure a guaranteed paycheck for life, in addition to Social Security, through products like lifetime annuities. LEARN MORE
