82% of Americans Are Making a Massive Retirement Planning Mistake
If you get a sinking feeling in your stomach when you think about your retirement finances, you’re not alone. In fact, 75% of Americans report feeling only somewhat confident or not confident at all about their future financial health, according to a Fidelity survey . Respondents said they worry about outliving their assets, rising healthcare and living costs, and having to adjust their lifestyle to a fixed-income budget. There is a simple way to avoid this fate and to reduce your financial stress, but few people are doing it.
Only 18% of Americans have a written retirement plan, according to Fidelity. The remaining 82% either don’t think a plan is necessary or have not yet created one because they’re overwhelmed and don’t know where to begin. But the longer you wait to create a plan, the more difficult it is to achieve your retirement goals.
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