Middle-of-the-road savers better prepared for retirement
People who are the middle 50% by retirement plan contribution rate save only three percentage points more of their salary than those in the bottom 25%, according to a report
this week from the Employee Benefit Research Institute and J.P. Morgan Asset Management. Yet those in the middle 50% have nearly twice as much saved by the time they reach retirement. Meanwhile, the top 25% of savers have four times as much socked away than the bottom 25% at retirement, according to the report.
Results are based on data from 10,000 U.S. households.