Most Aren’t: A startling 75% of Americans approaching retirement age have saved less than $30,000 for their golden years. Considering that maintaining one’s standard of living in retirement typically requires twenty times their annual income, the outlook is concerning.
While Only 28% of Americans are confident they’re saving enough for retirement, 60% of those who work with financial advisors feel confident about their retirement prospects.
Source: Northwestern Mutual, “Planning and Progress Study” (2021).
