You May Need More Than You Think
Only 43% of Americans have done a retirement calculation to figure out how much money they will need in retirement.*
Several factors lead to a greater need for retirement savings.
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People are living longer. Life expectancy in the United States is increasing. In fact, your retirement may last even longer than your career.
- People are more active in retirement, which often is associated with spending more money. In fact, 76% of Americans plan on having a more active retirement than their parents.**
- Healthcare costs are increasing. Out-of-pocket healthcare spending is expected to nearly triple between 2000 and 2030, with the share of after-tax income devoted to health care expected to reach 35%.***
Explore this website to help you determine how much you may need for retirement, how much you should save, and how you could reach your goals using your employer-sponsored retirement plan.
*The 2007 Retirement Confidence Survey, Employee Benefits Research Institute (EBRI), April 2007
**National Association for Variable Annuities (NAVA), 2005
***Center for Retirement Research at Boston College, October 2004
RPS 7394
