Many Americans Still Lack Retirement Savings

YiLi Chien and Paul Morris

The Regional Economist, 2018, vol. 26, issue 1

Abstract: This article aims to offer a glimpse into the current state of retirement readiness in the United States. We examine the participation in and usage of the two most common types of financial accounts designed exclusively for retirement savings. Overall, our analysis indicates that many households either do not utilize or underutilize the retirement savings plans available to them. We also examine how retirement savings vary with age and discuss alternative ways that nonparticipants may be preparing for retirement.

Date: 2018
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