Explore the latest developments concerning Americans say they.
Americans say they need $1.2 million to retire comfortably, survey finds — but many expect to fall short
To retire comfortably, Americans think they will need $1.2 million saved, according to a new survey from global investment manager Schroders.
Yet just 30% of the workplace retirement plan participants surveyed said they think they'll reach a $1 million savings mark before retiring, the survey found.
More than half â 51% â said they expect to have less than $500,000 saved when they reach retirement, including 24% who say they will have less than $250,000 saved, according to the survey, which polled 1,500 investors between March and April.
The reasons retirement savers cite for falling short include rising costs, credit card debt and competing expenses, the results found. Notably, 33% have more credit card debt than retirement savings, according to the survey. Meanwhile, 55% said they are unable to save 10% of their paychecks toward retirement due to competing expenses â and 69% said rising costs have put retirement out of reach for their generation.
EMSZERO Neo Body Sculpting Machine Shaping 6500W 200hz EMS Radio Frequency RF Muscle Stimulator Device
Americans fear this retirement setback more than death
Americans are less concerned about dying and more perturbed by the financial implications of remaining alive.
That’s one finding from an annual survey by the Allianz Center for the Future of Retirement. It found that 67% of Americans worry more about running out of money than death.
"It’s running out of money," said Kelly LaVigne, vice president of consumer insights at Allianz, speaking to USA TODAY in April. "It’s not being able to afford healthcare. It’s not being able to afford long-term care."
The Allianz survey, released in April, asked Americans to choose the bigger of two worries: death, or running out of money. In five recent annual surveys, "running out of money" has always won. This year, the margin was higher than ever. The survey reached 1,000 adults ages 25 and over with household incomes of at least $50,000 or investable assets of at least $150,000.
For more detailed information, explore updates concerning Americans say they.
0 Comments