American workers are in bad retirement shape. The gap between what employees need to save for retirement and what they are actually saving is widening, according to a report from the World Economic Forum.
Throughout my career as a CFP and plan adviser, I’ve seen firsthand how easy it is to miss big on making the most of workplace retirement plans. Employers assume that by making a 401(k) plan available to their team, they’re setting them on a track for financial stability. But in a world where people are living longer than ever — thanks to advances in healthcare and technology — and pensions are no longer the norm, just having a DC plan is not enough.
