Here's how much money Americans think they need to retire comfortably.
A major trouble sign when it comes to America's sagging retirement system: The gulf between what many people say they need to put away for their later years and how much money they actually have saved.
The typical employee believes they'll need $1.27 million to retire comfortably, according to a new study from financial services firm Northwestern Mutual. Yet the average retirement account balance stands at $89,300, and even Americans who are either close to or in their retirement years are falling far short, according to the study. Most people in their 60s and 70s have no more than about $114,000 in retirement savings, the firm found.
"There is a gap between saving for retirement and what you think you need post-retirement," Aditi Javeri Gokhale, chief strategy officer at Northwestern Mutual, told CBS MoneyWatch. Of late, Americans may believe they need to sock away more for retirement because of two years of elevated inflation, which hit a 40-year peak last year remains twice the Federal Reserve's 2% annual target. But the so-called retirement gap isn't going away, with people continuing to save far less than what they will need after they leave employment.
The widespread shortfall in retirement savings around the U.S. underscores the need to start saving early, Javeri Gokhale said."To make your retirement goals realistic, you need to start early, and you need to do comprehensive financial planning when you start early."
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Poll: Federal indictment hasn't hurt Trump — even though most Americans think he's guiltyNearly 6 in 10 Americans (57%) now think former President Donald Trump should be found guilty of federal crimes in the classified documents case, according to a new Yahoo News/YouGov poll.
Lire la suite »
Half of Americans think Hunter Biden got preferential treatment: pollHalf of Americans — including a third of Democrats– think first son Hunter Biden got favorable treatment from federal prosecutors after he agreed to a sweetheart plea deal earlier this …
Lire la suite »
Cases of Obesity-Linked Liver Disease Rising Steeply Among AmericansFatty liver disease is increasing rapidly among Americans, outpacing obesity rates across many racial groups and affecting the liver health of millions, a new study reports.
Lire la suite »
Americans are getting annoyed with tipping culture, survey findsCustomers are cutting back on tips across all forms of service including sit-down restaurants, cafes and delivery.
Lire la suite »
Americans caught smuggling $330K worth of meth in fuel tank at Texas-Mexico border, officers sayTwo U.S. citizens coming from Mexico were caught smuggling $330,000 worth of meth inside a fuel tank at the Ysleta Port of Entry, according to border patrol officers.
Lire la suite »
Charitable giving fell as less than half of Americans gave in 2022, study findsCharitable giving was down sharply in the U.S. in 2022 and, for the first time this century, less than half of Americans made donations, according to the annual Giving USA report released Tuesday. The 3.4% decline — 10.5% when adjusted for inflation — marked just the fourth time in four decades that year-over-year donations fell.
Lire la suite »