Americans’ retirement savings crisis - Financial Advisor

There has been an ongoing retirement savings crisis for many years. Even when inflation was nonexistent, interest rates were low, and stocks were in a bull market, Americans were not saving for retirement. The current economic conditions have wiped out $3.4 trillion from 401(k)s; and IRAs in the first half of 2022. Boston College’s estimate of a $7.1 trillion retirement savings shortfall among Americans forces half of the future retirees into a lower standard of living once they stop working. Suzanne Woolley discusses how America’s $7 trillion retirement crisis is only getting worse. Read Ms. Woolley’s article here…

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