Most Americans will run out of money about 14 years into their retirement.
According to HSBC Group's "The Future of Retirement: A New Reality," a survey of more than 15,000 consumers in 15 global markets, Americans will face a significant fall in their living standards during the final seven years of retirement due to inadequately funded long-term savings.
The report found that the average length of retirement internationally is 18 years, while the average retirement savings is expected to last 10 years. It predicts the situation will only worsen as life expectancy continues to rise globally.
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