For some lucky Americans, preparing for retirement sparks joy — especially for those who started saving early and have benefited from a generous employer match in their 401(k).
Access to intergenerational wealth, high-paying jobs, private pensions and a strong sense of purpose also help to make "retirement" an attractive phase of life. So does access to a professional financial advisor who can clarify both financial and behavioral questions about life after work.
But for many middle- and working-class people, the predominant emotion associated with retirement planning is fear — and their worries are understandable. Simply put, survey after survey shows that large swaths of Americans are lagging behind on key retirement readiness indicators.
Add in worries about the future of Social Security and the specter of high inflation, and thinking about retirement can be downright dreadful.
The good news is that Americans have an increasingly diverse set of retirement investing tools and services to rely on, and those who commit to retirement savings early and persistently stand at least a decent chance of achieving a dignified retirement.
Still, there is no doubt that Americans are worried about retirement and possibly running short of money at a vulnerable time, when returning to work is scarcely possible.
Brave advisors know it is only by confronting scary retirement statistics that they can ensure that their clients are on path toward a tranquil and sure retirement. See the accompanying slideshow for 13 such frightening facts published this year.
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