Majority of Americans Have Saved Enough for Retirement

The majority of Americans are confident they have saved or will save enough to retire comfortably, finds a Kiplinger’s Personal Finance poll.

According to the survey of investors between the ages of 35 and 64, 65 percent said they are confident they have saved or will save enough for a comfortable retirement. 20 percent were somewhat or very unconfident, while 16 percent said they were neither. On average, respondents have saved $327,090 and anticipate needing $909,000 for retirement. On average U.S. workers save 13.3 percent of their annual for retirement. As for the types of retirement savings, 73 percent said they had a workplace plan, 56 percent a traditional IRA, 42 percent a ROTH IRA, 20 percent an annuity, 10 percent self-employment and 29 percent said other.

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