Many Americans Die With Less Than $10,000 in Assets

A recent study has released some disturbing news. According to the study, Were They Prepared For Retirement? Financial Status at Advanced Ages in the HRS and Ahead Cohorts, about half of Americans will pass way with less than $10,000 in financial assets. The people who reside in these households rely mostly upon assistance from the government in the form of social security. 

The good news from this report is that most families DO have enough assets accumulated to enjoy their retirement without having to worry about running out of support. The report also determined that there was a correlation between health and a higher number of assets. It is important to remember that even most Americans will have plenty of assets to support themselves throughout their retirement, a reduction in social security could adversely affect the lives of millions of Americans who rely on this form of aid.

See Study: Almost Half of Americans Die With Less Than $10,000 In Assets, CBS Connecticut, Aug. 8, 2012.

Special Thanks to Brian J. Cohan for bringing this article to my attention.