Check out the enclosed link.
It describes a study conducted by Boston College's Center for Retirement Research. It says that Americans generally don't have enough saved for retirement. According to the study workers between 32 and 64 are short by a total of $6.6 trillion.
Well, that's scary enough. However, when you read more you find out that the study arrived at the amount "using conservative assumptions, including a 3 percent rate of return on assets and no further cuts in pension coverage or increases in the Social Security retirement age."
If the stock markets are about to undergo a radical decline, where are Americans going to get that modest 3 percent interest? It won't be IRAs or 401ks that are loaded with stocks or mutual funds.
How many people will be able to retire if they lose half of their life savings over the next few years?
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