Longevity, Healthcare Boosting Retirement Price Tag

Although American workers are saving more for retirement, they still aren’t saving enough and are likely to face a more expensive retirement due to longevity, healthcare and curtailed working years, The Fidelity Research Institute reported Monday.

Although many Americans expect to work in retirement, they may be unable to do so due to health concerns.

The average American household will replace 58% of income in retirement, up from 57% in 2005.

The median in total household retirement savings is $22,500.

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Money Management Executive
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