Eye Opening Stats Showing How Americans Save
On This Episode:
Vanguard’s “How America Saves 2020” report is packed with lots of intriguing stats and findings about Americans and how they save for retirement in the crazy year that is 2020 (most of the recent data is technically from 2019 although some figures are current through the Spring of 2020). Let’s look at some of the top takeaways from the study and how you might compare to the “normal” savings behaviors of Americans.
1:14 - Main Topic: Statistics On How Americans Save
1:47 - 100 Million Americans Use A Defined Contribution Plan
4:00 - Average Number Of Funds Used In These Plans Are 2.4
5:36 - 34% Of Participants Didn’t Contribute Enough To Meet Their Employer’s Match
6:46 - Is There A Reason To Not Meet An Employer Match?
7:56 - 80% Of Participants Still Had Assets With A Previous Employer
9:26 - 96% Of Those Assets Are Able To Be Rolled Over Into Something Else
11:16 - Tristen Has Asks About How Divorcing Later In Life Might Affect Retirement