Reported 2 days ago
A recent study by Boston College reveals that half of working-age households in the U.S. lack sufficient retirement savings to maintain their standard of living, forcing many to downsize or make significant lifestyle adjustments. This retirement crisis, stemming from a shift to defined contribution plans like 401(k)s, has shown that even high-income households struggle with savings. Financial experts recommend early and consistent retirement savings, ideally starting at 10% of one’s salary, and seeking professional guidance to navigate retirement planning effectively.
Source: YAHOO