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| Benefits & Administration |
| Most Americans Significantly Underestimate Retirement Needs |
| Seventy-four percent of Americans underestimate how much they will need for a comfortable retirement, according to Fidelity Investments’ Retirement IQ Survey. Twenty-five percent think they will need two to three times their last full-year income, while most financial professionals say people need 10 times their last year’s salary to have a secure retirement. To the question of how many years over the past 35 years did the stock market produce a positive return? Only 8% answered correctly: 30 years.
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| Debt Overwhelming Millennials |
| The biggest issue keeping Millennials up at night is debt, according to the latest survey by Lincoln Financial Group. The firm found that this is an issue for 48% of respondents in that age group; meanwhile, 44% of Generation Xers and 58% of Baby Boomers reported their biggest financial issue was healthcare expenses. The 18- to 34-year-olds surveyed are facing a number of other challenges: Only 33% have a retirement account versus 48% of the general population.Read more > |
