Is an adequate income in your future?
The answer is within your control. Save enough and it will happen. Don't save and it is
unlikely to happen.
Social Security, which provides the average retiree with just over 40 percent of final
earnings as a pension, and just 26 percent for those who earned $65,000 last year, cannot
alone provide adequate retirement income. Yet, one-half of retirees receive almost all of
their retirement income from Social Security. If you want an adequate retirement income,
you don't want to receive only Social Security.
The papers in this book provide a picture of the dramatic change and fundamental
challenge we face in reaching the goal of an adequate retirement income. The papers
document what we are and are not doing, and what we can do, to reach the goal. They
underline the fact that we must take control of our own destiny; build on the base
provided by Social Security; make a realistic assessment of whether we will have an
employer pension and, if so, how much it will be; take advantage of every savings
incentive provided to us at work and through an individual retirement account; and plan to
live a very long time due to the wonders of modern medicine.