By Carla Fried
So much for leaving the house to the kids. According to the Center for Retirement Research at Boston College, more and more Americans will need to use their home as a retirement ATM, wiping out a key component of many estate/inheritance plans.
For the first time ever, the National Retirement Risk Index compiled by the CRR@BC shows that post-crash more than half of Americans may not be able to maintain their standard of living in retirement. The CRR researchers define “at risk” as anyone whose projected retirement income will fall at least 10 percent short of supporting their pre-retirement income.
bnet.com