How much do you need to fund retirement? More than you think
Michael Finke, Wade D. Pfau
Yes, a new study indicates that those saving for retirement will need to increase dramatically the percent they save for retirement if they want to fund their desired standard of living in retirement.
Consider: Americans presently save on average 5.5% and 401(k) plan participants deferred, on average, 6.8% of their salaries into retirement plans in 2015.
Powell, Robert, "How much do you need to fund retirement? More than you think" (2017). In the News. 2030.