Middle Class in Arkansas
Middle-class households in Arkansas nearing retirement face a high risk of outliving their financial assets. With fewer workers having guaranteed sources of retirement income, households approaching retirement in Arkansas face increased longevity, investment and inflation risk with less lifetime guaranteed income.
Ernst & Young LLP estimated the retirement vulnerability of middle-class workers in Arkansas, seven years before retirement and at retirement. Their analysis found:
• More than three quarters of middle-income Arkansas households seven years from retirement (near-retirees) can expect to outlive their financial assets if they attempt to maintain their pre-retirement standard of living.
• Over three out of five middle-class Arkansas new retirees can expect to outlive their financial assets.
• Nine out of ten near retirees and more than eight out of ten new retirees without an employer pension plan in Arkansas are likely to outlive their assets.
• Married couples are more likely to outlive their financial assets, due to their longer joint life spans, than single households. Single females are more likely to outlive their assets than single males.
• Near retirees in Arkansas would have to reduce their standard of living on average by almost 42% to reduce the likelihood of outliving their financial assets (failure rate) to only five percent.
• New retirees in Arkansas would have to reduce their standard of living on average by 30% to reduce the likelihood of outliving their assets to only a five percent failure rate.
The study finds that Arkansas retirees would be much better prepared to have a financially secure retirement if they have a guaranteed source of retirement income beyond Social Security, such as annuities and defined benefit plans. Retirees with these guaranteed sources of retirement income are dramatically less likely to outlive their savings in retirement.
Reference: http://www.paycheckforlife.org/uploads/ASR%20ARKANSAS_css.pdf
One question, do you feel like you are prepared the way things are right now?
Thumbs up on this article. It really puts it into prespective on what our futures will look like. This is definitly a must read for everyone. A union can ensure us a future. Keep up the good work.
sumo
May 12, 2010 at 11:34 pm
hey sawzall, does this hit home, are you middle class?? And you comment about good work ethics, then you reply to these comments during the day on work time now what kind of work ethic is that. You must not work in the field and have plenty of time at the comp. I hope you take this serious and read up on all of the facts that VOTEUNION01 is presenting to us.
ASUfan
May 12, 2010 at 11:41 pm
Is this blog representative of company wide union support?
I’m seeing the same 3 or 4 individuals doing all the whining..
Are you having trouble selling this little brainstorm?
Sawzall
May 13, 2010 at 10:03 am
If you think it is just three or four individuals, why do you spend your time making comments?
voteunion01
May 13, 2010 at 7:25 pm
Its the ones you can’t see posting here that I would be concerned about.sawzall
bukitmouth
May 13, 2010 at 12:43 pm
amen brother more than meets the eye here
asu1fan
May 14, 2010 at 7:51 am
I would like to say that I am in support of this union. Last go around I was uncertain. Mangagement in this company would like to believe that this union movement was just generalized to a few specific people, as sawzall had stated in the above comment. This is simply not true. If this union were so bad then why would they be fighting it so hard. They need to realize that there are many small fires started throughout our state and that we demand equality. This blog is a fantastic idea and once it gets up and going it will be impossible to stop.
mirror
May 13, 2010 at 4:13 pm
It’s not whose doing the typing. It’s whose doing the reading. Theres several hits a night on this site according to the moderator. If you don’t type in the address you can’t get here. Thats pretty good for something that aint been advertised state wide. As more learn about this site, I’m sure there will be more comments. Where is your supporting evidence that adds truth to your statements about why your against the union. We are all waiting. Please, after making us wait this long, make it good. If people are worried about having to put an e-mail address on here to comment, open up an new account in a bogus name. No reason to fear da man on here. Da brotherhood.
homewrecker
May 13, 2010 at 8:44 pm
I changed it to where no one has to leave an email address or a name now.
voteunion01
May 14, 2010 at 5:44 am
Hey guys, sawzall is either management or someone trying to get info for them. He or she is just trying to guage how many people are supporting the union so they can form a plan on who they are going to try and manipulate. I would just ignore them from now on until he or she decides to post a legitimate comment.
voteunion01
May 14, 2010 at 5:47 am
I think you might be right. Personally, I am sick of his attitude.
civicdriver
May 24, 2010 at 10:42 pm
It’s not whining sawzall it’s stating the
facts
Topdog
May 13, 2010 at 9:09 pm
yea its whining
asu1fan
May 14, 2010 at 7:47 am
?
Sawzall
May 14, 2010 at 3:04 pm
Will unionizing help us construction guys get some short sleeve shirts?
civicdriver
May 24, 2010 at 10:40 pm