Talk about a calamity trifecta.
The big three? According to recent surveys, many Americans are forced into retiring earlier than they imagined. To make matters worse, they don’t have an inkling of how much they need to save to live comfortably during their retirement years. Nor do they have a firm grasp on how many years they might need to finance after they leave the workforce — putting them at risk of outliving their money.
Let’s start with that involuntary retirement.
According to a recent Edward Jones study, 40% of its clients were forced into retirement. That’s “not entirely shocking because life is full of surprises and that doesn’t stop with retirement,” Jennifer Schoonmaker-Dasch, an Edward Jones financial adviser in Lexington, N.C., told Yahoo Finance.“I see clients being forced into retirement for a variety of reasons such as company downsizings or, most…
