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Four in 10 working Americans say they will never be able to afford to retire, a Harris Interactive survey of 1,005 adults for the American Institute of Certified Public Accountants found.
In addition, 55% do not know how much they will need to afford retirement, and among those who think they know, they are low-balling the figures. Asked how much they would need for a 20-year retirement starting at age 65, those earning $50,000 to $75,000 gave a median estimate of $250,000.
Lee Barney has been the editor of Money Management Executive since 2002 and has been writing about Wall Street since 1993. Previously, at United Medias Wall Street & Technology magazine and … Read full bio
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