Are You Too Optimistic About Retirement?
See that glass as half-full? Always looking for the lesson in any failure? Congratulations on that upbeat perspective, optimist. There's just one thing -- it's wise to temper that rosy outlook when evaluating your retirement readiness.
Fidelity's recently published 2020 Retirement Savings Assessment evaluates Americans on how well they've prepared for retirement. As part of that evaluation, Fidelity asked respondents to weigh in on their own situations. Interestingly enough, 60% of respondents said they were on track for retirement, but Fidelity estimates that only 54% are truly on the right path. And even though most respondents were confident in their retirement prospects, they also admitted to not knowing how much money they'd need to retire. That over-confidence could force a rude awakening when these prospective retirees realize they may outlive their savings.
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Source Fool.com
