Saving for Retirement
Most Americans are grossly underestimating how much they should save for retirement. Many assume that Social Security will be enough to fill in any shortcomings in their retirement savings, but this is not true. The average retiree will need 70% of their pre-retirement income to support themselves, but the national average is currently sitting at 60%. According to a recent survey, the only Americans saving enough to meet this threshold are those in Hawaii, Alaska, and South Carolina. For more information visit this article by Lynne Adkins with CBS Philly.
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