Retirement Readiness in America
According to Vanguard's study, only 42% of Americans can maintain their lifestyle after retirement.
The study highlights the key factors affecting retirement readiness and notes that fewer than half of Americans are financially prepared for retirement.
Defined contribution plans play a critical role in building a stronger retirement system
- 42% of U.S. workers are on pace to sustain their lifestyle in retirement.
- Workers with defined contribution plans are nearly twice as likely to reach their retirement goals.
- If every worker had access to a defined contribution plan, six in 10 Americans would achieve retirement security.
Author's summary: Less than half of Americans are ready for retirement.
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