While people are trying — and often failing — to save for retirement, they’re not really thinking about howthey’ll make whatever money they will have stretch once they leavethe workplace.
That’s according to a Harris poll conducted for PentegraRetirement Services that found that more than half (56 percent) ofthose who have managed to accumulate some retirement savings haveno plan for how they’ll access the money and make it last inretirement. In fact, one out of every five hasn’t even thoughtabout it.
Their average target age for retirement is 66, but 20 percentdon’t plan to retire at all. They want to start drawing Social Security benefits atage 67, and those still in the workplace estimate they’ll need anaverage of $3,200 per month in income to live.
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