Close Menu
BestNewsOnline
    Facebook X (Twitter) Instagram
    BestNewsOnline
    • Retirement planning
    • Insurance
    • Real estate
    • Subscription
    BestNewsOnline
    Home»Retirement planning»Retirement is out of reach for most workers
    Retirement planning

    Retirement is out of reach for most workers

    October 17, 20221 Min Read
    WhatsApp Facebook Telegram

    Nearly half of all workers (49%) say they expect to work past age 65 or not retire at all. It’s not due to a lack of planning or overspending. Indeed, a recent report by Transamerica Center for Retirement Studies said 82% of traditionally employed workers save for retirement through employer-sponsored plans, such as a 401(k), and many also contribute to additional savings outside of their workplace. The self-employed, who don’t have access to workplace retirement models, are also grabbing the money. Of these self-employed savers, 68% save through their own stand-alone retirement plan, including 79% through a tax-advantaged retirement account.

    Most workers dream of fully funded retirements that allow for travel, recreation and time with loved ones, but only 24% of workers across all demographics say they feel “very confident” they can retire with a comfortable lifestyle. In fact, 58% of workers expect to work at least part-time even in retirement.

    Financial stability in retirement will require a concerted effort to improve the retirement system at the government level, starting with affordable healthcare costs, prescription drugs and long-term care options, but supplementing income with business opportunities. Legitimate and side hustles might be the answer the American worker is looking for.

    Add A Comment
    Leave A Reply Cancel Reply

    What's hot

    Ways to budget while on vacation

    December 3, 2022

    Pet insurance and pre-existing conditions: what to understand

    November 1, 2022

    Retirement planning: what mistakes do couples make when planning their retirement?

    September 16, 2022

    Serving our community | Pittsburgh Magazine

    January 3, 2023
    Don't miss

    MLG Capital reaches $1 billion in real estate acquisitions for the second year

    January 14, 2023

    Real estate agent moves and news from December 10, 2022

    December 10, 2022

    Royal York Property Management offers unprecedented financial support to struggling property investors

    December 19, 2022
    Picked for you

    LACERA invites tenders for the system’s emerging real asset management program

    Retirement planning February 2, 2023

    The Los Angeles County Employees Retirement Association invites proposals from qualified companies to implement the…

    BestNewsOnline.net is owned and managed by

    Top10 International FZ LLE
    Office 2002, 20th Floor, Creative Tower
    Fujairah, United Arab Emirates
    TRN: 100608946800003

    • Home
    • Contact us
    • Privacy policy
    • Terms and services

    Type above and press Enter to search. Press Esc to cancel.