Reported 9 months ago
A study by Principal Financial Group revealed that 59% of respondents who believed they were contributing to their 401(k) actually were not, highlighting the confusion surrounding retirement savings. Experts point out that the American retirement system places too much burden on individuals, leading to challenges in saving for retirement, particularly due to lack of financial education, stagnant wages, and longer life spans. The article discusses the disconnect between retirement savings goals and reality, emphasizing the need for a shift in government, corporate, and individual responsibility to address the retirement crisis effectively.
Source: YAHOO