Reported about 13 hours ago
Recent research from the Employee Benefit Research Institute (EBRI) indicates that Individual Retirement Accounts (IRAs) and 401(k) plans contribute less than 20% to retirees' overall income, with IRAs accounting for 10% and 401(k)s 15%. The study emphasizes the necessity of alternative income sources like Social Security, pensions, and other investments, as retirees frequently face income deficits against their expenditures. This underscores the importance of financial planning well ahead of retirement.
Source: YAHOO