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POPVOX · Federal Reserve · FinLit Lingo · FinLitTV® Video · Videos ? Global · Videos ? Holiday · Videos ? Events · Videos ? FinLitTV® Experts. You are here: Home / Blog / The retirement-savings crisis is overblown ...
Many news reports warn adults that they probably do not have enough money saved for retirement. New research released by RAND Corp. shows that seven out of ten Americans are adequately prepared financially for retirement. Their research also found that certain segments of the population are better prepared for retirement than others. For instance, 89% of college graduates are adequately prepared while only 29% of single females without a high school education are prepared. Your relationship status can make a difference too! 80% of married couples are prepared for retirement compared to 55% of single persons.
The researchers did not use typical pre-retirement income-replacement ratio when conducting their research, which they say is a poor measure of preparedness for retirement. Rather, they believe ?the better measure of economic well-being in retirement is to get a sense of whether Americans can fund their consumption using a mix of housing wealth and non-housing wealth.?