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How Much Do You Know When It Comes to Preparing for Retirement?
Fidelity Link to more items from this source
Mar. 6, 2017

"Even if there is some debate among professionals around how much the average person needs to save, nearly three-quarters (74 percent) of respondents underestimated how much is needed.... [N]early half (47 percent) underestimated how big an impact relatively small savings can have over time.... Thirty-eight percent of Americans estimated they would only need to make their hard-earned savings last for about 12-17 years, which could leave some at risk of running out of money in retirement.... While 17 percent of respondents answered [correctly that housing would be the largest expense in retirement] (and 13 percent of those aged 55-65), a larger number of respondents (69 percent) thought health care would be the largest expense."

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