Many Americans dream of the day that they get to kick back and enjoy retirement, yet not enough have put sufficient financial plans in place to make those dreams a reality. One survey by the U.S. Government Accountability Office (GAO) found that about half of all U.S. households age 55 and older have no retirement savings at all.
The U.S. Economic Policy Institute (EPI) recently took a look at the state of retirement benefits and retirement living in the U.S. What they found was that, due to a lack of savings, many seniors are still working. In fact, the percentage of seniors still in the workforce (18.8%) is higher today than in over half a century. If you want to ensure a happy and carefree retirement, here are your sources for savings and future income replacement.