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Does Your Retirement Plan Need a Reboot?

Before the global health crisis, the lack of significant, sustained progress among workplace retirement savers signaled the need for a boost of some kind: The Employee Benefits Research Institute’s 2020 Retirement Confidence Survey revealed that only 30% of American workers have assets of $250,000 or more in savings or investments outside of their home. Among those with a retirement plan, 37% reported having $250,000 in savings or investments.

EBRI’s annual surveys have reflected a 10% uptick in the number of American workers with at least $250,000 in retirement savings. But among retirees, the percentage among this group has stalled in the same time period.

So, when the stock market tanked by more than 30% back in March of this year, U.S. employees were seemingly immobilized with new questions and unanticipated realities about everything from their personal health to what work, saving and even retirement may look like in the future.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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