Advisors who have admonished clients to spend wisely during their working years and adjust their expectations for retirement can take heart: Americans are coming around, according to a study Hartford Financial.
According to the study, 75.2% of Americans believe they are the most responsible for providing their income in retirement, as opposed to those who believe it is the government’s responsibility (5.3%). At the same time, 85.4% say Social Security alone will not be enough to maintain their standard of living in retirement, an increase from the 81.1% of respondents who believed the same thing in last year’s study.
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