Retirement Crisis

With the Social Security system headingfor fiscal trouble, more Americanswill depend on private savings in thecoming decades to fund their retirement.According to a recent survey byThrivent Financial, they're not ready.The survey shows that more than a thirdof Americans haven't started to save forretirement, about 15% have less than$10,000 in their retirement kitty andanother 17% have less than $50,000stashed away. Almost two thirds havenever figured out how much they willneed to finance their retirement years.Not surprisingly, the higher a person'sincome, the more likely it is that theyhave started saving for retirement. Morethan 84% of those with an income ofmore than $75,000 are building a retirementnest egg; only 26% of those withincome under $20,000 are doing so.