This is especially a concern, as only 20% believe they are saving adequately for retirement.
Tag: retirement outlook
Among those who have made an estimate, the median amount is $650,000, Bankrate.com learned in a survey.
A survey finds that to prevent future retirees from challenges, governments and employers will have to step up to the plate.
However, only 35% of advisers have worked with their clients to develop formal retirement plans.
For most people, saving for retirement does not become pressing until their 40s or 50s, when it may already be too late to craft a realistic retirement income planning strategy.
IRI President and CEO Cathy Weatherford says financial advisers are uniquely positioned to help Gen X effectively plan for their retirement concerns.
Seventy percent believe their advisers have a responsibility to discuss guaranteed lifetime income products with them.