Here's what could be considered a bit of contrarian news: a lot of recent retirees are faring just fine as they sail through their golden years, thanks to their ability to draw on Social Security.
That's according to a survey by T. Rowe Price that looked at how retirees are doing one to five years after they've left the workforce and who rely, in part, on the 401(k) plans they continue to be enrolled in or savings from 401(k)s rolled into IRA accounts.
The retirees surveyed have considerable assets, with nearly half claiming $500,000 or more in household assets (investable assets plus home equity minus debt).
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
