Americans are woefully unprepared for their retirement years. Nearly half of working-age households have no retirement assets, according to the National Institute of Retirement Security. Two-thirds of households headed by people 55 to 64 years old have just one year’s worth of annual income socked away.
The numbers are particularly bleak for women. Those 65 and older have incomes 25 percent lower than their male peers and are 80 percent more likely to be impoverished.
Even small adjustments in early or midcareer — increasing retirement contributions by 1 percent, for example — can improve workers’ retirement outlook and ease worries.
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