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How Much to Save for a Secure Retirement

Author

Listed:
  • Alicia H. Munnell
  • Anthony Webb
  • Francesca Golub-Sass

Abstract

One of the major challenges facing Americans today is how to prepare for a secure retirement. While market ups and downs are unpredictable, peole do have control over work and saving decisions that can significantly improve their retirement prospects. This brief uses a simple model to estimate what percent of earnings an individual must save to ensure a financially secure retirement depending on when he starts saving, when he retires, and how he invests his retirement savings.

Suggested Citation

  • Alicia H. Munnell & Anthony Webb & Francesca Golub-Sass, 2011. "How Much to Save for a Secure Retirement," Issues in Brief ib2011-13, Center for Retirement Research.
    • Handle: RePEc:crr:issbrf:ib2011-13
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    File URL: http://crr.bc.edu/briefs/how-much-to-save-for-a-secure-retirement/
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    Citations

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    Cited by:

    1. Pfau, Wade Donald & Kariastanto, Bayu, 2012. "An international perspective on “safe” savings rates for retirement," MPRA Paper 39066, University Library of Munich, Germany.
    2. Jia Qi & Swarn Chatterjee & Yingyi Liu, 2022. "Retirement Preparedness of Generation X Compared to Other Cohorts in the United States," IJFS, MDPI, vol. 10(2), pages 1-14, June.
    3. Wei Sun & Teresa Ghilarducci & Michael Papadopoulos & Anthony Webb, 2019. "The Impact of a Social Security Proposal for "Catch-Up" Contributions," SCEPA working paper series. 2019-03, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    4. Maria Teresa Medeiros Garcia, 2014. "Management of Pension Funds: the Case of Portugal," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 4(4), pages 792-792.
    5. Teresa Ghilarducci & Michael Papadopoulos & Anthony Webb, 2020. "The Illusory Benefits of Working Longer on Financial Preparedness for Retirement," SCEPA working paper series. 2020-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.

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