Majority of Americans Have Saved Enough for Retirement

Majority of Americans Have Saved Enough for Retirement

The majority of Americans are confident they have saved or will save enough to retire comfortably, finds a Kiplinger’s Personal Finance poll.

According to the survey of investors between the ages of 35 and 64, 65 percent said they are confident they have saved or will save enough for a comfortable retirement. 20 percent were somewhat or very unconfident, while 16 percent said they were neither. On average, respondents have saved $327,090 and anticipate needing $909,000 for retirement. On average U.S. workers save 13.3 percent of their annual for retirement. As for the types of retirement savings, 73 percent said they had a workplace plan, 56 percent a traditional IRA, 42 percent a ROTH IRA, 20 percent an annuity, 10 percent self-employment and 29 percent said other.




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