The average Maine retiree will be $5,870 shy of what they need to replace their annual work income in the next 20 years, a recent report by Pew Charitable Trusts and Econsult Solutions found.
It will stress individual retirees and the state. The shortfall in retirement income will cost the state about $1.6 billion in MaineCare and social assistance to retirees, the study found.
Nate Nichols, president of Gosline Retirement Planning in Farmingdale, contributes his thoughts in this Bangor Daily News article by Lori Valigra.
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