Wednesday, December 7, 2022
HomeLife Insurance12 Merry Retirement Statistics: 2022

12 Merry Retirement Statistics: 2022

Those that observe the monetary companies commerce media are possible used to listening to the phrase “retirement disaster” thrown round with some abandon.

The usual notion is that the widespread demise of outlined profit pension plans is leaving Individuals with considerably much less monetary safety as soon as they depart the workforce. This worry is usually cited along side scary-sounding statistics about the instability of the Social Safety system and ever-increasing life expectations to underscore the sense {that a} disaster of grand proportions is already upon us.

As is usually the case, a better have a look at the information exhibits a way more advanced image. For starters, working Individuals have by no means earlier than had a lot saved for retirement, with some $7.7 trillion invested in 401(okay) plans alone. Add this to the still-sizable legacy pension system and the assist delivered by Social Safety and the result’s that older Individuals immediately get pleasure from higher incomes and a decrease threat of poverty throughout life after work relative to any prior technology.

This doesn’t imply the U.S. retirement system doesn’t face challenges, after all, but it surely does make these challenges seem no less than rather less daunting. What is obvious is {that a} good understanding of the place the retirement system really stands immediately is crucial for its ongoing success and potential enhancements sooner or later.

In that spirit, ThinkAdvisor presents the next slideshow of merry retirement statistics. The information factors present simply how dedicated Individuals are to making ready for retirement, regardless of the challenges introduced by rocky markets and rising inflation.



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