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Pru 401(K) just started showing up in paycheck?
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<blockquote data-quote="Babagounj" data-source="post: 1600236" data-attributes="member: 12952"><p><span style="font-size: 22px"><strong>Almost a Third of Those with Savings Have Less Than $1,000 for Retirement</strong></span></p><p></p><p><span style="font-size: 22px"><strong><span style="font-size: 18px"><strong>Study after study shows that Americans are not saving for retirement like they should, and a new survey finds that nearly one third of people who have some sort of savings plan have amassed less than $1,000 for retirement.</strong></span></strong></span></p><p><span style="font-size: 22px"><strong><span style="font-size: 18px"></span></strong></span></p><p><span style="font-size: 22px"><strong>The survey titled “<a href="http://www.ebri.org/pdf/surveys/rcs/2015/RCS15.FS-3.Preps.pdf" target="_blank">Preparing for Retirement in America</a>,” by Employee Benefit Research Institute (EBRI) and Greenwald and Associates, finds that only 65 percent of workers have any savings for retirement, a number that fell below the 75 percent figure from 2009.</strong></span></p><p><span style="font-size: 22px"><strong></strong></span></p><p><span style="font-size: 22px"><strong>But 28 percent of workers report that they have saved less than $1,000 for retirement, and almost 6 in 10 Americans say that their financial planning needs improvement.</strong></span></p><p><span style="font-size: 22px"><strong></strong></span></p><p><span style="font-size: 22px"><strong>Additionally, 34 percent say they have made no effort at all to saving anything or make a retirement plan. Still, most say that they intend to start saving at some point.</strong></span></p><p><span style="font-size: 22px"><strong></strong></span></p><p><span style="font-size: 22px"><strong>Many say that the average person needs to save one million dollars for retirement, but a <a href="http://www.figuide.com/todays-20-year-olds-will-need-over-7-million-for-modest-retirement-lifestyle.html" target="_blank">recent piece</a> by David Marotta, president of Marotta Wealth Management in Charlottesville, VA, noted that a 20-year-old in 2015 may have to amass up to $7 million to retire comfortably.</strong></span></p><p><span style="font-size: 22px"><strong></strong></span></p><p><span style="font-size: 22px"><strong>“Someone retiring now in 2014 with $1 million at age 65 can safely withdraw $43,600 a year,” Marotta wrote last May. “However, [because of inflation], today’s 20-year-olds will need over $7 million to have that same lifestyle when they retire. In 1970, they would only have needed $166,000 in retirement to have a similar purchasing power for the rest of their life.”</strong></span></p><p><span style="font-size: 22px"><strong></strong></span></p></blockquote><p></p>
[QUOTE="Babagounj, post: 1600236, member: 12952"] [SIZE=6][B]Almost a Third of Those with Savings Have Less Than $1,000 for Retirement[/B][/SIZE] [SIZE=6][B][SIZE=5][B]Study after study shows that Americans are not saving for retirement like they should, and a new survey finds that nearly one third of people who have some sort of savings plan have amassed less than $1,000 for retirement.[/B] [B][/B][/SIZE] The survey titled “[URL='http://www.ebri.org/pdf/surveys/rcs/2015/RCS15.FS-3.Preps.pdf']Preparing for Retirement in America[/URL],” by Employee Benefit Research Institute (EBRI) and Greenwald and Associates, finds that only 65 percent of workers have any savings for retirement, a number that fell below the 75 percent figure from 2009. But 28 percent of workers report that they have saved less than $1,000 for retirement, and almost 6 in 10 Americans say that their financial planning needs improvement. Additionally, 34 percent say they have made no effort at all to saving anything or make a retirement plan. Still, most say that they intend to start saving at some point. Many say that the average person needs to save one million dollars for retirement, but a [URL='http://www.figuide.com/todays-20-year-olds-will-need-over-7-million-for-modest-retirement-lifestyle.html']recent piece[/URL] by David Marotta, president of Marotta Wealth Management in Charlottesville, VA, noted that a 20-year-old in 2015 may have to amass up to $7 million to retire comfortably. “Someone retiring now in 2014 with $1 million at age 65 can safely withdraw $43,600 a year,” Marotta wrote last May. “However, [because of inflation], today’s 20-year-olds will need over $7 million to have that same lifestyle when they retire. In 1970, they would only have needed $166,000 in retirement to have a similar purchasing power for the rest of their life.” [/B][/SIZE] [/QUOTE]
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