Compared with people in the rest of the world, U.S. residents are surprisingly good at preparing for retirement.[@@]
Kenneth Gelman, director of market research at AXA Financial, New York, presented survey data supporting that conclusion today at a discussion of the survey results.
The researchers who conducted the survey interviewed 800 adult residents of the United States and 8,400 adult residents of 14 other developed countries. The survey included at least one country, the Netherlands, where the average amount of gross domestic product per resident is higher than the U.S. average.
But the researchers found that the U.S. residents they interviewed reported saving the equivalent of an average of 531 euros per month for their retirement. The second-ranking country was Australia, where residents reported saving only 405 euros per month for retirement. Residents of the Netherlands, which may be the wealthiest country included in the survey, save only 199 euros per month for retirement.
The researchers also found that more than 75% of the U.S. participants reported that they are saving money for retirement and that 73% said they were prepared for retirement.