(07/22/2008)
According to a study by Ernst & Young indicates 67 percent of West Virginians entering retirement now are at high risk of outliving their retirement savings.

The study said the average West Virginia household would have to reduce its standard of living by 30 percent To avoid.

Joe Reali chairman of the Americans for Secure Retirement coalition, who commissioned the study, says only about 21 percent of Americans are covered by traditional pension plans, which provide a paycheck for life.

Reali says people are underestimating what they need to save.

Factors include longer lifespans and inflation.

See   paycheckforlife.org


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