Fidelity Investments new Retirement Savings Assessment report found that, on average, American households can expect their monthly income to decline about 28% a month in retirement and nearly four-in-10 (38%) of retiree households say they dont have enough income to cover their monthly expenses.
Heres an interactive slide show highlighting five actionable steps retirees and pre-retirees can take to improve their monthly retirement income.
While there is evidence that Americans are saving more for retirement, our analysis finds that they need to take additional steps to prepare for the future and take better control of their personal economy, said Kathleen Murphy, president of Fidelitys personal investing group. "The study underscores the importance of early engagement in the retirement planning process.
Source: Fidelity Investments