kfield, the former executive director of The American Association of Retired People, reports that "private pensions are in a state of chaos. First of all, 50 percent of the workforce today has no pension. That alone should be of great concern. And 75 to 80 percent of the other 50 percent have ineffective pensions that pay $55 or $150 or $300 a month."

In his book The Retirement Myth, Craig S. Karpel writes: "I visited the headquarters of a major national pension consulting firm and met with a managing director who specializes in designing lush retirement plans for top management. When I asked her what people who don't have corner offices will be able to expect in the way of pension income, she said with a confident smile: "The Silver Bullet.'

" 'What,' I asked, 'is The Silver Bullet?'

"She shrugged, 'If baby boomers discover they don't have enough money to live on when they're older, they can always blow their brains out.'" Karpel goes on to explain the difference between the old Defined Benefit retirement plans and the new 401K plans which are riskier. It is not a pretty picture for most people working today. And that is just for retirement. When medical fees and long-term nursing home care are added to the picture, the picture is frightening. In his 1995 book, he indicates that nursing-home fees run from $30,000 to $125,000 per year. He went to a clean no-frills nursing home in his area and found the price to be $88,0