This is the decade when retirement gets redefined - Kiplinger
The days of retiring with a generous pension and gold watch are gone and replaced with 401(k)s. Is this the decade when retirement is redefined for the middle and working-class? According to Jason Schenker, an economist, and chairman of The Futurist Institute, “there are already different levels of retirement…retirement for the middle and working class is changing more than retirement for the wealthy.” A recent survey by Fidelity Investments states, “Americans in their 50s had, on average, $203,600 stashed away in their 401(k)s as of the fourth quarter last year, with people in their 60s reporting savings of only $25,500 more, hardly enough to retire on.” The average older American will need to work longer to build a larger nest egg. So, what will your retirement planning look like in the next decade? What will be affecting your plans? Catherine Siskos writing for Kiplinger discusses four forces shaping retirement in the 2020s. Read Ms. Siskos’ article here…