Minding the Gap: How Ready Are Pre-retirees?

By: ETFdb
How close are today’s pre-retirees to being retirement ready? While there is still work to be done, the answer is closer than we might have expected. That’s the good news from a recent analysis by BlackRock and the Employee Benefit Research Institute (EBRI). The less-than-good news is that U.S. workers closest to retirement, and with the least amount of time left to bulk up their savings, are the ones who have the most work to do. Here is how we examined the question of retirement readiness. According to many financial advisors, you will need to replace about 80% of your income in retirement1. Many Americans have two primary sources of retirement income, Social Security and retirement savings, usually in 401(k) plans and individual retirement accounts (IRAs). We focused on people in their last decade before the traditional retirement age of 65 to find out if those sources should be enough. […] Click here to read the original article on ETFdb.com. Related Posts: No Related Posts
How close are today’s pre-retirees to being retirement ready? While there is still work to be done, the answer is closer than we might have expected. That’s the good news from a recent analysis by BlackRock and the Employee Benefit Research Institute (EBRI). The less-than-good news is that U.S. workers closest to retirement, and with the least amount of time left to bulk up their savings, are the ones who have the most work to do. Here is how we examined the question of retirement readiness. According to many financial advisors, you will need to replace about 80% of your income in retirement1. Many Americans have two primary sources of retirement income, Social Security and retirement savings, usually in 401(k) plans and individual retirement accounts (IRAs). We focused on people in their last decade before the traditional retirement age of 65 to find out if those sources should be enough. […]

Click here to read the original article on ETFdb.com.

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