REALITY: 58% of recent retirees stopped working unexpectedly, and the median age this happened is 63. This may happen due to reasons beyond their control: health problems, disability, downsizing, or having to care for a family member. Only 6% of retirees earn income from working.* 

REALITY: Here's a sample scenario—your average income throughout your career was $65,000. Your social security benefit will be about $2,662 per month. Using the a common theory that you'll need to replace 80% of your income in retirement, you would need $4,333 monthly. You see the shortfall? Recent retirees are living it - only 30% strongly agree that they've saved enough for retirement.

REALITY: A recent estimate shows that a couple at age 65 may need $300,000 to cover medical costs in retirement. This includes Medicare deductibles, copays, supplemental plans, and expenses that Medicare doesn't cover, like hearings aids and glasses. What is not included? Long term care. That same couple at age 65 - they each have a 70% chance of needing some type of long term care in their lifetime. That could cost $79,800 per year in the state of New Jersey.**/***