Fidelity Investments’ new Retirement Savings Assessment report found that, on average, American households can expect their monthly income to decline about 28% a month in retirement and nearly four-in-10 (38%) retiree households say they don’t have enough income to cover their monthly expenses.
Here’s an interactive slide show highlighting five actionable steps retirees and pre-retirees can take to improve their monthly retirement income.
“While there is evidence that Americans are saving more for retirement, our analysis finds that they need to take additional steps to prepare for the future and take better control of their personal economy,” Kathleen Murphy, president of Fidelity’s personal investing group, said in the report. "The study underscores the importance of early engagement in the retirement planning process.”
Source: Fidelity Investments