For years Americans have been warned that longer life spans, increasing healthcare costs, and decreasing support from employer pensions will have serious consequences for the future of retirement. We’ll speak with the author of a new book that offers solutions in both public policy and personal finance.
GUEST:
Andrew Eschtruth – Associate Director for External Relations at Boston College’s Center for Retirement Research. He is the co-author of Falling Short: The Coming Retirement Crisis and What to Do About It.
From AARP:
Calculate when you should claim your social security benefits.
Let the Social Security Calculator help you figure out how much retirement income you’ll receive at different claiming ages so you can determine when you should claim Social Security. Can you afford to "retire early" and claim benefits at age 62, should you wait until your full retirement age, or can you wait until age 70 in order to receive the largest possible monthly benefit?
Find out if you are saving enough.
The AARP Retirement Calculator can provide you with a personalized snapshot of what your financial future might look like. Simply answer a few questions about your household status, salary and retirement savings, such as an IRA or 401(k). You can include information about supplemental retirement income (such as a pension or Social Security), consider how long you intend to work and think about your expected lifestyle as a retiree. The tool will help you determine the amount of money you’ll need to retire when – and how – you want.
