This article was originally written by Catherine Brock and published on The Motley Fool on 1/20/20. Click here to access the full story.
“How do you see yourself in retirement — the simple, quiet retiree who takes neighborhood walks and always gets the early bird dinner special? Or are you the carefree retiree who runs 5Ks, meets friends for champagne brunch, and takes cruises to exotic places? Both are stereotypes, of course, but they represent the difference between surviving and thriving in retirement.
Thriving may be your goal, but not every retiree achieves it. Research from Aspen Institute indicates that one in five seniors in America lives in poverty. More concerning is the prediction from Schwartz Center for Economic Policy Analysis that 40% of older workers and their spouses will fall into poverty or near poverty in their later years.”