Financial facts you should know

When do you measure Education's success? at -

Graduation or Retirement?

The following facts exist for every 100 people at age 65
Did you know:

25 are dead (mostly from poor health)

20 have annual incomes under $6,000 (below poverty level)

51 have annual incomes of $6,000 to $35,000 (median $12,000)

4 have annual incomes over $35,000 (financially successful)

1990 source: U.S. Department of Health and Human Services, SSA Publ.#13.11871/6/90

Other U.S. Facts:

Pension plans for federal employees – paid out of separate accounts – are now underfunded by more than $1 trillion. New York Times
Only 16% of the population who qualify for an IRA has one.
Hundreds of U.S. companies' pension plans are underfunded. Companies listed are LTB Corp. Uniroyal Goodrich, Chrysler Corp., Bethlehem Steel and General Motors. New York Times

Today's average 50 year old has only $2,300 saved towards retirement. J. Arthor Urcivoll, Sr.V.P. Merrill Lynch
Only 5% of the population in America can put their hands on $10,000 when they're 65 years old.
In 1936 when Social Security was started, there were 16 people working for every one person on the program. Today the ratio is only 3 to 1. In the next 12 years it is projected to be 1 to 1… maybe.