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, showing that fewer than half of Americans are financially prepared to sustain their standard of living after stopping work.
Defined contribution plans play a critical role in building a stronger retirement system
The report found that workers with such plans are nearly twice as likely to reach their retirement goals as those without them.
- 42% of U.S. workers are on pace to sustain their lifestyle in retirement.
- Having access to defined contribution plans could help six in 10 Americans achieve retirement security.
Author's summary: Less than half of Americans are ready for retirement.
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