It’s the biggest financial worry for anyone saving for retirement: will I outlive my savings and die broke?
Based on surveys repeatedly pointing to dismally low levels of retirement savings, most American households have reason to be concerned. The latest report on how many Americans die broke comes from an analysis by the Employee Benefits Research Institute based on data from the University of Michigan’s Health and Retirement Study.
Of those 85 or older who died between 2010 and 2012, roughly one in five had no assets other than a house, according to the analysis. The average home equity was…
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