Seniors’ incomes in 47 states don’t go far enough?

If you want to survive and even thrive in retirement, most financial advisers believe you need at least 70% of the income that you had before you retired. But seniors in most states are falling short, a Bankrate study shows.

Pat Peason found that retirement incomes are exceeding the 70% target in just 3 states: Hawaii, Alaska and South Carolina.

The results illustrate America’s widespread lack of retirement preparedness at a time when many people have a hard time planning even week to week, let alone for an event that is decades away.

“Americans are facing a shortfall of retirement income (because) their saved assets are not enough to fund their desired or even current lifestyle,” says James Carlson, chief investment officer at Questis, a financial services firm based in Charleston, South Carolina.