Middle-Aged Americans Are, Underprepared for Retirement, , Study Finds.<br />'Newsweek' reports that people in the United States <br />who are approaching retirement age may be critically <br />underprepared when it comes to their savings.<br />According to Prudential Investments, Americans around <br />the age of 55 are facing a "midlife retirement crisis," <br />lacking the funds for a comfortable post-working life. .<br />A recent survey by the major insurance <br />provider found the average retirement <br />savings of a 55-year-old to be $47,950. .<br />This falls significantly short of the recommended <br />goal of having eight times a person's annual <br />income saved by the time they reach 55. .<br />According to the survey, 57% of 55-year-olds <br />said they expected to outlive the funds <br />they have currently managed to save.<br />That's compared to 59% <br />of 65-year-olds and <br />52% of 75-year-olds.<br />The survey also found that one-third of 55-year-olds <br />and 43% of 65-year-olds have already been forced <br />to postpone retirement due to inflation.<br />Attention today is rightly centered on <br />the approximately 11,000 65-year-olds <br />entering retirement every week, but we <br />must also focus as an industry on the <br />opportunity to help a slightly younger <br />generation of workers entering the <br />critical 10-year countdown to retirement, Caroline Feeney, executive vice president and head <br />of Prudential's U.S. Businesses, via 'Newsweek'.<br />Further, the financial futures <br />of certain cohorts—such as <br />women—are especially precarious, Caroline Feeney, executive vice president and head <br />of Prudential's U.S. Businesses, via 'Newsweek'.<br />The upside is that, with the right <br />planning and strategy to protect <br />their life's work, we can ensure <br />this generation is well-prepared <br />to live not only longer, but better, Caroline Feeney, executive vice president and head <br />of Prudential's U.S. Businesses, via 'Newsweek'
