Half of Americans will see their standard of living fall in retirement

Yahoo! Finance - With roughly 10,000 boomers retiring every days, the U.S. retirement crisis is no longer an easily dismissed distant concern. Whether we choose to pay attention or not, American workers' savings shortfall is a slow-moving hurricane that's going to hit many of us where we live.

By contrast, the wealth-to-income ratio is a neutral gauge that doesn't assume a specific behavior. And what it shows is troubling, according to the Center for Retirement Research.

Harold Evensky, a financial planner and professor of practice at Texas Tech University, said he gets into nitty-gritty retirement planning once clients get within five years of that milestone. Before clients reach that stage, his standard advice is to save as much as they can.

Evensky, who is 72, worries about the coming retirement crisis and the country that his children and grandchildren will inherit. "One of the nice things about being my age is that I'm not going to have to see a lot of things," he said. "It's scary."

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