Study: Almost Half Of Americans Die With Less Than $10,000 In Assets
from CBS
CAMBRIDGE, Mass. (CBS Connecticut) – Close to half of Americans die owning very little in financial assets, with senior citizens relying heavily on Social Security to help get them through their retirement years.
More than 46 percent of Americans find themselves with under $10,000 in financial assets by the time they die, according to a new study examining financial status among senior citizens. The study, “Were They Prepared For Retirement?,” looks at the connection between health and wealth and Americans’ increased reliance on the government.
“Many of these households also have no housing wealth and rely almost entirely on Social Security benefits for support,” wrote the study’s three authors, James Poterba of MIT, Steven Venti of Dartmouth and David Wise of Harvard.
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2012-08-08 22:46:22
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