Only 1 in 3 Workers on Track to Retire Comfortably, Study Finds

Only 1 in 3 Workers on Track to Retire Comfortably, Study Finds

Half of workers will need to wait for retirement until at least age 70 to be financially prepared, finds a study from Aon.

According to their findings, two in three U.S. workers will fall short of what they need to maintain their standard of living at 67 years of age. The study also found the average employee would need to save about 11 times their pay to be able to retire comfortably at 67 years old.

So how much do employees need to save on top of what they’re already saving to make enough for a comfortable retirement? According to Aon, on average employees should have 16% of their pay going into their retirement accounts every year to accumulate about 11 times their pay by age 67.

Social Security COLA Increases 2.8 percent in 2019

Social Security COLA Increases 2.8 percent in 2019

Wesley Snipes vs. The IRS: The Battle Continues. Tax Lawyer Rob Wood Explains

Wesley Snipes vs. The IRS: The Battle Continues. Tax Lawyer Rob Wood Explains