10 Sources of Retirement Income

Read excerpt below:

April 20, 2009
By Emily Brandon
U.S. News & World Report

Most working Americans have only one source of steady income: their job. In retirement you are likely to have a patchwork quilt of several income streams. Retirement accounts, Social Security, home equity, pensions, and part-time work are the most frequently citied sources of expected retirement income, according to a Gallup poll released today. Here’s a look at ten potential sources of retirement income and how many Americans expect to rely on each one.

 Retirement accounts. A 401(k), IRA, Keogh, or other retirement account is how many workers plan to primarily finance their retirement. Some 42 percent of Americans expect to rely on tax-deferred accounts when they retire, down from 54 percent last year and the lowest level since Gallup began asking this question in 2001. Gallup attributes the drop to "statement shock" that confronts workers when they open up their 401(k) statements and see the major decline in value of their savings.

Read entire article: http://www.usnews.com/blogs/planning-to-retire/2009/04/20/10-sources-of-retirement-income.html

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