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Retirement is daunting. Here’s how Americans are making it work.
May 16, 2024
Wall Street Journal reporters Anne Tergesen and Veronica Dagher discuss how Americans are navigating retirement, from those with almost no savings to those with $5 million. They explore the challenges of retirement, the complexities of achieving a $1 million retirement target, and the impact of automatic enrollment in 401k plans on generational attitudes. The podcast also highlights retirement as a phase of growth and joy, emphasizing personal fulfillment and continuous development in adulthood.
30:45
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Quick takeaways
- Delay in retirement age due to increased workforce participation among older individuals.
- Retirement preparation advice: save 16% of income annually and prioritize employer-matched 401k contributions for security.
Deep dives
Retirement Trends and Realities
Retirement trends indicate a delay in retirement age since the early 1990s, with the average age for men retiring close to 65. Workforce participation among older individuals has increased, influencing the decision to delay retirement. Expectation versus reality in retirement lifestyle and finances often differ, with factors like unexpected early retirement due to circumstances affecting plans.
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