How economic and life events affect retirement savings: John
Gin's MoneyWatch  Recent research from various sources has
uncovered an upsetting trend in financial planning in America:
Many Americans nearing retirement are underprepared. But less
studied are the reasons why Americans are so ill-equipped to
fund this major life stage. What events have transpired to make
retirement financially burdensome even for those who have long
planned their exit from the workplace?  A recent Ameriprise
Financial Services survey of retired and working Americans ages
50-70 unveiled that the overwhelming majority (90 percent) have
experienced some economic or life event that has had a financial
impact on their retirement savings goals.  The average
respondent experienced four of these events, which range from
"derailers" that are beyond their control, such as the effects
of the recession, to family and lifestyle choices that have
lasting financial consequences. In the end, these events set
respondents back $117,000 on average.