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Many Americans Still Lack Retirement Savings

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Abstract

This article aims to offer a glimpse into the current state of retirement readiness in the United States. We examine the participation in and usage of the two most common types of financial accounts designed exclusively for retirement savings. Overall, our analysis indicates that many households either do not utilize or underutilize the retirement savings plans available to them. We also examine how retirement savings vary with age and discuss alternative ways that nonparticipants may be preparing for retirement.

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  • YiLi Chien & Paul Morris, 2018. "Many Americans Still Lack Retirement Savings," The Regional Economist, Federal Reserve Bank of St. Louis, vol. 26(1).
    • Handle: RePEc:fip:fedlre:00173
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    File URL: https://www.stlouisfed.org/publications/regional-economist/first-quarter-2018/many-americans-still-lack-retirement-savings
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    Cited by:

    1. M. Martin Boyer & Franca Glenzer, 2021. "Pensions, annuities, and long-term care insurance: on the impact of risk screening," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(2), pages 133-174, September.
    2. Dina Tasneem & Marine de Montaignac & Jim Engle-Warnick & Audrey Azerot, 2018. "A Laboratory Study of Nudge with Retirement Savings," CIRANO Working Papers 2018s-23, CIRANO.

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