“Irrational exuberance” or sheer stupidity?

Posted on April 8th, 2006 in Personal by Vegan Momma

Will You Really Be Ready for Retirement?
Friday, April 07, 2006
By Gail Buckner, CFP

Dear Friends,

What’s wrong with this math:

If you’re currently in the workforce and under age 45 there’s a one-in-three chance that either you or your spouse will retire with an old-fashioned pension — the kind that pays as long as you live.

Yet twice as many of you (60 percent) are counting on receiving income from a pension when you retire.

“To expect the probability of having a defined benefit plan to double, given the pension freezes — that’s what [blows] me away,” says Jack VanDerhei of the Employee Benefit Research Institute (EBRI).