Are You Saving Enough For Retirement?
Saving for retirement is no easy task, but a new study says you don’t need to be a Powerball winner to put away enough cash for old age. According to the study by Fidelity Investments, 45 percent of those surveyed in 2015 were on track to cover essential expenses during their retirement, up from 38 percent in 2013. Although that’s still less than half the population, the percentage is heading in the right direction. One reason: People...
Workers Are Saving More for Retirement, Led By Millennials
New York — Workers are saving more for retirement, and the youngest — not exactly known for squirreling money away — are boosting their savings rates faster than any other age group. Millennials between the ages of 25 and 34 are saving a median of 7.5 percent of their pay for retirement, including whatever match they get from their jobs, according to a survey by Fidelity Investments of 4,650 households with at least $20,000 of annual...
Some Millennials Socking Away 15%of Their Salary
Meet the Millennial Super Saver. He or she is an ordinary human, 18 to 34, who saves at least 15 percent of his or her salary each year in a 401(k) retirement savings plan. The mission: Save enough to retire comfortably. Or at least retire. An analysis by Fidelity Investments of the 13 million participants in 401(k) plans it administers found close to 421,000 of these young “super savers,” as Fidelity calls them, accounting for almost...
