An Introduction to Annuity: How Automatic Enrollment Works
Let’s not beat around the bush. When it comes to retirement, Americans are undersaving. How bad is it? Well, according to PwC’s Retirement in America report, one in four Americans don’t have any retirement savings. But, what about those who are saving? It’s not nearly enough. “Those that are [saving], on average, what they have saved will afford them like $1,000 a month of actual cash while they’re in retirement,” PwC U.S. asset manager and wealth management leader Bernadette Geis told Yahoo Money. What’s more, the median retirement account balance for people aged 55 to 64 is $120,000, accordi...