Quick Marketing Tip - 7.28.08
 
Middle-class Retirees Outliving Savings
According to a study by the Coalition of Americans for Secure Retirement, almost three out of five new middle-class retirees will outlast their savings unless they live more modestly after they quit the work force. Middle-class people now retiring only face an average cut of 24% in their standard of living while those who won't retire for seven years face a 37% reduction.
 
Companies that sell annuities would benefit from some of the policies the Coalition supports. For example, the group backs a congressional bill that would shield half of the income from a lifetime annuity from taxation, up to $20,000 a year. 
 
Source: "Baby boomers may still outlive assets." Yahoo! News. 14 July 2008. Reuters. 15 July 2008.
<http://news.yahoo.com/s/nm/20080714/us_nm/usa_retirement_dc>