Almost half of middle-class People face a slide into poverty as they enter their retirement, a current examine by the Schwartz Heart for Financial Coverage Evaluation on the New Faculty has concluded. CNBC studies:

Roughly 40 p.c of People who’re thought-about center class (based mostly on their earnings ranges) will fall into poverty or close to poverty by the point they attain age 65, in line with the examine.

The examine additionally concluded that if staff age 50 to 60 determine to retire at age 62, 8.5 million of them are projected to fall under twice the Federal Poverty Degree, with retirement incomes under $23,340 for singles and $31,260 for {couples}. Additional, 2.6 million of these 8.5 million downwardly cell staff and their spouses can have incomes under the poverty degree — $11,670 for a person and $15,730 for a two-person family.