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Retirement Realities24:50
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photoPlaying golf, strolling along the beach, spending more time with the grandchildren are all images of what retirement is supposed to look like. But for millions of Americans, the reality is something quite different.

Pension plans are going bust, the cost of living keeps rising, and even people with 401(k) plans aren't necessarily doing a good job of managing them. Meanwhile, the Bush administration wants to privatize social security in the name of giving the American people more control over their retirement savings.

Tune in for a reality check on reaching those happy golden years for millions of Americans.

Guests:

Tom Lauricella, reporter for The Wall Street Journal

Alicia Munnell, director of the Center for Retirement Research at Boston College

Michael Kitcis, certified financial planner

Janet Bodnair, executive editor of Kiplingers.

This program aired on December 6, 2004.

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