Researchers at Morningstar say you amply boost your chances of fully funding your retirement if you invest through workplace accounts and delay retirement.
can be tricky. After all, while some factors are in your control — such as what sort of lifestyle you plan to lead in retirement — others, like your life expectancy, are nigh impossible to predict.
But if it's still relatively early in your retirement savings journey, there are two major levers you can pull that drastically increase the chances you'll have enough money to live on in retirement and even pass along to your loved ones.. Morningstar found that 79% of Americans who have at least 20 years of future participation in a defined-contribution plan, such as a 401 or 403, will have enough money to sustain their expenses in retirement.
If you follow a common model, you save throughout your life in a tax-advantaged retirement account, and once you stop working, you replace your salary with a combination ofYour chances of your income lasting throughout your retirement, then, rely on maximizing your Social Security benefits and building a large enough portfolio toIt's not hard to see why saving in a workplace retirement account tends to boost the odds of a successful retirement.
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