Authored by Lance Roberts via RealInvestmentAdvice.com, The “real” cost of raising a family in the U.S. has grown incredibly more expensive with surging food, energy, health, and housing costs.
- Researchers at Purdue University recently studied data culled from across the globe and found that in the U.S., $132,000 was found to be the optimal income for “feeling” happy for raising a family of four.
- Gallup also surveyed to find out what the “average” family required to support a family of four in the U.S. (Forget about being happy, we are talking about “just getting by.”) That number turned out to be $58.000.
With the vast amount of individuals already vastly under-saved and dependent on social welfare, the next major correction will reveal the full extent of the “retirement crisis” silently lurking in the shadows of this bull market cycle.
For the 75.4 million “boomers,” about 26% of the entire population heading into retirement by 2030, the reality is that only about 20% will be able to actually retire.
The rest will be faced with tough decisions in the years ahead.
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