While everyone knows it's important to save for retirement, not everyone heeds that well-worn advice. In fact, Northwestern Mutual's 2018 Planning & Progress Study, which surveyed 2,003 adults, found that 21 percent of Americans have saved nothing for retirement, and one-third of adults have less than $5,000 saved for retirement….
Then and Now
Ten years ago, Lehman Brothers filed for Chapter 11 bankruptcy, sending equity markets and ultimately the economy into a tailspin. Now, household income is at record highs, wage growth is the fastest in a decade, and average 401(k) and IRA account balances top six figures for the first time on record. But are Americans better prepared for retirement today than they were at the front of the Great Recession?….