For some, 2020 will be the year that retirement becomes a reality. For others, it will be a financial improbability.
Retirement readiness nationwide is shaky overall. Only 23% of men and just 12% of women are “very confident” in their ability to fully retire with a comfortable lifestyle, according to recent research from the Transamerica Center for Retirement Studies.
On the other hand, two-thirds of U.S. workers said they are very or somewhat confident they’ll be able to live comfortably throughout retirement, according to a separate study by the Employee Benefit Research Institute.
Yet only 42% have done any retirement calculations, EBRI found. And fewer than 1 in 3 workers has tried to figure out how much money is needed for medical expenses.
If 2020 is the year you plan to step away from the workforce for good, these are…