By Amanda Umpierrez
Source: 401(k) Specialist

Generation X workers are increasingly doubting their ability to achieve a dream retirement in the future.

Latest findings from Schroders’ 2023 U.S. Retirement Survey found that non-retired Americans between the ages of 43 and 58 face shortcomings with their future retirement income. On average, respondents said they would be comfortable with $1,112,183 in retirement savings, yet they expect to have just $661,013 saved—the largest gap of the three age groups surveyed.

Millennials (ages 27 to 42) say it would take $1,280,892 to retire comfortably, but expect to have $877,266 saved, while Baby Boomers (ages 59 to 77) believe they would need $924,897, but in reality, anticipate saving $663,401.

Read the full article