JACKSONVILLE BANKRUPTCY ATTORNEY: CAN FAILURE TO PLAN FOR RETIREMENT LEAD TO BANKRUPTCY

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As advances in medical care continue to add years to the lives of many Americans, could the failure to plan for that longer life lead to bankruptcy?

It is currently estimated that nearly half of all Americans fail to plan properly for retirement. Add to that a bruising economy that has seen the savings and retirement accounts of many older Americans drop as much as 40 percent, and the necessity for many of those to live off credit cards and you have the equivalent of the perfect storm.

The old paradigm of being able to retire at age 65 after a long career at one company with a comfortable pension and ample savings – with the house paid off and the kids long gone – has disappeared from the American landscape.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© David Wolf | Attorney Advertising

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