What to Do If You Face a Financial Shortfall in Retirement
More than 40% of American households headed by someone between 35 and 64 years old are likely to run short of money in their retirement years, according to a recent report from the Employee Benefit Research Institute (EBRI).
How short? It varies depending on marital status and age. Widowers age 60 to 64 fell $12,640 short, for example; widows had a $15,782 shortfall. But single people in that age group fare much worse, and single women have the most yawning gap. Single men are projected to have a $24,905 shortfall and single women can expect a $62,127 deficit.
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