11/28/2014 – Time to think about saving for retirement again (Marketplace)

The end of November doesn’t just mean holiday shopping and leftover turkey. For people lucky enough to have jobs with benefits, it also means the end of open enrollment– time for choices about health insurance, flexible-spending accounts, and how much they plan to invest for retirement in the coming year. Let’s skip to the hard part: Saving for retirement. Many people have a nagging feeling that they haven’t been doing enough. They’re right, as indicated by the title of Andrew Eschtruth’s new book, written with colleagues at the Boston College Center for Retirement Research, “Falling Short: The Coming Retirement Crisis and What to Do About It.”  People are living longer, so nest egg needs to last longer. Social Security and Medicare are both headed for shortfalls in the next 20 years — so it would be smart to think about benefit cuts as a risk factor. That leaves savings and pensions.

Read the full article at Marketplace.