Practically half of middle-class Individuals face a slide into poverty as they enter their retirement, a current research by the Schwartz Middle for Financial Coverage Evaluation on the New College has concluded. CNBC reviews:

Roughly 40 % of Individuals who’re thought-about center class (based mostly on their revenue ranges) will fall into poverty or close to poverty by the point they attain age 65, in keeping with the research.

The research additionally concluded that if staff age 50 to 60 determine to retire at age 62, 8.5 million of them are projected to fall beneath twice the Federal Poverty Stage, with retirement incomes beneath $23,340 for singles and $31,260 for {couples}. Additional, 2.6 million of these 8.5 million downwardly cell staff and their spouses may have incomes beneath the poverty stage — $11,670 for a person and $15,730 for a two-person family.