Bankrate.com latest report on retirement highlights that 52 % of Americans say that they’re behind where they should be in saving for retirement. Bankrate.com's Chief Financial Analyst Greg McBride details steps that can be taken to build your retirement.
52% KNOW they are behind. What this doesn't say is probably another 40-45% DON'T KNOW that they are behind.
R
One of the major problems is education. The lack of it. Retirement planning courses should be mandatory starting in high school and right through college and beyond. Many people just don't plan for retirement. The key is to start saving/investing early in life, be consistent, take advantage of any employer matching plan, max out contributions when possible, eliminate debt, avoid risks with your nest egg and plan for multiple streams of income once retired (social security, pensions, dividends, part time work, etc.). The site Retirement And Good Living provides information on finances, health, retirement locations, part time work and also has a great blog of guest posts about a variety of retirement topics.
N
I call bs. No way are 50% on track. Only 12% of workers are eligible for a pension. 75% earn less today than they would need to survive each year in retirement.
T
I worked in aviation maintenance my whole career and got layed off so many times I can't count. Try losing your job 5-10 times and see how much you have saved. Plus, many smaller airlines didn't even have 401K's back in the 80's and no pensions either. And people wonder why we didn't save?
D
companies need to start giving more money to employee retirement instead of giving all to executive bonuses
D
Breaking news: Most Americans don't save anything. Most Americans are fat. Most Americans are divorced. Most Americans can't parent, have bad relationships, have bad credit, etc, etc, etc. lol
r
Wage stagnation, while the companies are saying do more for the shareholders.
J
That number seams very low only 52% say they are behind, most every one I know is behind where they should be and probably every one is behind where they could be.
D
I am worried too. I only have about 1.2 million in my 401K. luckily, it's up 14.5% this year.
Z
With minimum wage lagging the rest of the Developed World this is a given outcome. It all boils down to how much you get paid and how much of it is disposable vs. living expenses.
Only 12% of workers are eligible for a pension.
75% earn less today than they would need to survive each year in retirement.