By Natalie Lin
Source: Plan Adviser
As retirement approaches for millions of Americans, the path forward appears increasingly uncertain, with many expressing concerns about how they will generate income in their post-work years.
According to the 2024 Schroders US Retirement Survey, the results of which were released Thursday, nonretired Americans expect to draw on a range of income sources beyond Social Security when they do retire, with 60% planning to rely on cash savings and 48% counting on their workplace 401(k), 403(b) or 457 plan. Other top sources include a spouse’s retirement plan (37%), investment income (36%) and a spouse’s pension plan (27%).