The Employee Benefits Research Institute has issued the 2011 Retirement Confidence Survey. And the answer is: We are not confident. We are somewhere between pessimistic and hands-thrown-in-the-air hopeless.
This, the smart people at EBRI tell us, is good. You must recognize any problem before you can solve it. It’s not that our retirement situation nationally has gotten all that much worse. It’s that we’re finally facing reality. Continue reading
Mike Piper, creator of the popular Oblivious Investor blog, has just published his latest book — his 7th — called Can I Retire? It is a compact 99 pages, but focuses on two big issues. First, how much we’ll really need in retirement. Second, the complexities of managing our retirement savings once we actually stop working. That second challenge turns out to be a much more elaborate job than saving the money in the first place.
Part of a series of books in which Piper tries to boil down the most important elements of a topic to 100 pages or less, Can I Retire? manages to avoid being overly general by picking a few critical issues to really zone in on. Numerous examples help bring his discussions down to earth.
I found quite sobering the totals people need to save even for modest levels of spending in retirement, but I suspect that’s part of the point.
The book left me curious about Piper, a young author, and his interest in tackling a topic 40 years into the future for him. He recently took time out to answer a series of Portfolioist questions in an email interview. Here are edited excerpts: Continue reading