Take Test On Retirement Planning

Retirees today start with five to six times their average lifetime income, on average, according to Mauricio Soto, a senior associate at the Center for Retirement Research at Boston College.

"Most people today are fine, but Social Security replacement rates are going down and people are retiring earlier," he said.

As that happens, and with pensions and retiree health care disappearing, five times income isn't going to be enough, he said. "I'd say you're looking at needing between seven and 10 times income."

Take Test On Retirement Planning
Source: Hartford Courant