Retirement is a gamble

Posted by John Kanelis on

Frontline broadcast this segment in April 2013 and is showing it again tonight at 9 on Panhandle PBS.

Those of us who are approaching retirement should take heed.

Retirement is a gamble. So, the “Retirement Gamble” tells us how so many Americans are becoming increasingly unable to save enough for the so-called “golden years.”

The “Retirement Gamble” illustrates how we need to set aside enough money to live on. A lot of retirement accounts took serious hits in the 2008 financial crash. Those who thought they had done enough learned to their dismay that dramatic economic downturns can inflict grievous wounds on your retirement plans.

I have a personal stake in this segment. I’m approaching my own retirement. I’ll be 65 in three months. I intend to start drawing Social Security income a year later, upon my 66th birthday. Social Security might be enough to live on day to day. My wife and I hope to use our retirement account for other things, such as travel.

Of course, much of our planning depends on whether our investments will hold up under the financial pressures that come and go.

Frontline tells the story in its award-winning fashion once again. It re-airs tonight on Panhandle PBS.

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