Fidelity® Study: America’s Retirement Score Improving, with Millennials Catching up to Generation X in Terms of Retirement Preparedness
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Even with this improvement, the study reveals half of those surveyed are at risk of not being able to fully cover essential expenses2 in retirement. Fidelity's Retirement Savings Assessment is built upon comprehensive data from more than 3,100 survey responses that are run through the extensive retirement planning platform Fidelity uses every day with customers3. The end result: a numerical indicator showing whether savers are on target to meet their estimated income needs. The score places households into four categories (linked to a numerical range) on the retirement preparedness spectrum, based on a household's ability to cover all of their estimated retirement expenses in a down market4. (See graphic on "Where American Households Fall on the Retirement Preparedness Spectrum.") Generational Shift: Millennials' Retirement Score Catches Up with Generation XOne thing that makes Fidelity's score unique is its ability to enable comparative views of preparedness across generations. (See graphic on "Retirement Preparedness by Generation.")
"Millennials are clearly putting money aside for retirement and taking more control of their personal situations to ensure a financially-secure future," said
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