How much do you need to fund retirement? More than you think

[McFurd]

USA Today - 2/7/2016 - Robert Powell - Don’t shoot the researchers. Yes, a new study indicates that those saving for retirement will need to increase dramatically the percent they save for retirement if they want to fund their desired standard of living in retirement. Consider: Americans presently save on average 5.5% and 401(k) plan participants deferred, on average, 6.8% of their salaries into retirement plans in 2015. But those savings rates are far below what’s needed to fund retirement given today’s markets, according to the researchers, David Blanchett, head of retirement research at Morningstar Investment Management, Michael Finke, dean and chief academic officer at The American College of Financial Services, and Wade Pfau, a professor of retirement income at The American College of Financial Services. Read more @ http://www.usatoday.com/story/money/per ... /96784474/