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Retirement savings for older workers falling short

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NEW YORK - The vast majority of older American workers are not prepared for retirement and they know it, but many still have high expectations for how their golden years will be spent according to a new study.The Insured Retirement Institute (IRI) conducted a survey earlier this year of nearly 1,000 part-time and full-time employees ages 40 to 73, and found that 51% of them had less than $50,0000 saved for retirement, and 56% of respondents admit that they do not believe they will be prepared financially to sustain themselves for the rest of their lives after they stop working.

Despite that, one third believe they will retire before 65.IRI also found that 58% of older workers believe they will need to bring in $55,000 or more annually in.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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