Retirement Should Be An Enjoyable Experience

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Retirement is supposed to be an enjoyable experience. Most seniors hope that their lifestyles will continue in the same fashion as it is at the time of retirement. Retirement is anticipated as a time of more leisure, a time for slowing down from the daily rat-race and enjoying life. Many retirees hope to take advantage of the opportunity to embrace a simpler lifestyle and experience less stress. Unfortunately, for many, this turns out to not be the case.
Although some retirees have planned adequately for retirement, many are ill-prepared. The statistics, when viewed, are alarming. Only 53 percent of workers have retirement plans and only 48 percent actually participate in a 401(k) or retirement program offered by their employer. Some thirty-eight million, approximately 45 percent of current households with working-age individuals, state that they have no retirement savings at all. “The median retirement account balance is $3,000 for most working-age households—with and without retirement accounts—and $12,000 for near-retirement households.” (Farmer, 2015) (Carlozo, 2014) “Even for those who do have a 401k, IRA or other retirement fund, the median balance at retirement is $120,000. That may sound like a lot, but for the typical household, that amounts to only $400 a month.” (Sherter, 2014)
There are various reasons seniors might not have a retirement fund. A significant reason, says Anthony Webb, a senior research economist at Boston College’s Center for Retirement

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