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Do you expect to retire later than originally planned?
In a nationwide survey by Charles Schwab, it found one in five Americans expect to retire later than originally planned because of the economic downtown. The respondents reported they believe they need to save $1.9 million for retirement, but many believe their retirement goals are out of reach. Catherine Golladay, executive vice president at Charles Schwab states “Saving for retirement has been a top financial stressor for people even when the markets were setting records and we were living through the longest bull market in history.” The new reality is people are trying to navigate the current health and financial challenges, while also worrying about their long-term goals. In Megan Henney’s article featured on Fox Business News, she writes on how much money Americans think they need to retire comfortably. Read Ms. Henney’s article here…
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