What people think they need to retire is flat from last year, but it's still $1.8 million [USA TODAY]
Charles Schwab Corporation (The) (SCHW)
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Source: USA TODAY
Workers still think they need to save $1.8 million for retirement, and on average, they again expect their nest egg to last 23 years after retiring at age 65, according to the broker's annual survey of 1,000 participants surveyed between April 17 and May 3 in the U.S. Broken down, that's just over $78,000 annually, which is pretty close to the 2022 median U.S. income of $74,000, according to the U.S. Census Bureau. Fifty-eight percent of respondents still said was the top obstacle preventing them from saving for a comfortable retirement, but that's down from 62% last year, the survey said. Stock market volatility was the next biggest concern at 36%, but that was also down from last year's 42%. “Workers are feeling more optimistic about their retirement prospects and an improving economic climate tends to boost financial confidence,” said Lee McAdoo, managing director of Schwab Retirement Plan Services. Forty-three percent - up from 37% in 2023 - of workers now think they're ver
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SCHW
Earnings
- 7/16/24 - In-Line
SCHW
Sec Filings
- 8/26/24 - Form N-PX
- 8/26/24 - Form N-PX
- 8/23/24 - Form SC
- SCHW's page on the SEC website