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RAB Research Archive

Americans underestimate long term financial needs



Despite being confident about their current financial situation, a large portion of Americans significantly underestimate the projected costs of living in retirement, according to a recent survey by independent adviser Financial Engines. The study found that 58 percent of respondents at least 65 years of age and 76 percent of those between the ages of 55 and 64 believe the average married couple retiring at age 65 would need between $50,000 and $200,000 for health care. Financial Engines estimates the actual figure is $266,000.

Source: PlanSponsor



View or Download: https://www.plansponsor.com/americans-underestimate-long-term-financial-needs/

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