How Important Are Retirement Savings? very, verrrry, VERY!!

April 27, 2017 | posted in: Blog, Employee Education, Plan Sponsor Corner | by
How important is saving for retirement? The Social Security Administration’s new study makes the answer pretty clear: very.

The biennial “Income of the Aged” report released this spring examines the retirement income of more than 34 million households, married and single, to produce a financial snapshot of those 65 and older in 2014, the most recent available data.

  • Savers have nearly doubled the annual income in retirement than nonsavers.
  • When a household is reduced to one person, income may decrease dramatically.
  • Income often decreases as a household ages.

Click here to read more about why savings now matter, especially for women.