The results of Putnam Investment's latest study should come as no surprise.
The company, in a survey of nearly 3,300 working Americans, found that long-term savings, access to a workplace retirement program, and working with a financial advisor are the best ways to achieve success in retirement. These results are true regardless of income level.
The Putnam Lifetime Income Score research looks at behavioral tendencies, mortality factors and current retirement and non-retirement assets, such as investment securities, annuities and cash value life insurance, to estimate the level of income that U.S. households are currently on track to replace in retirement. The study found that American households are on track to replace 64 percent of their current income in retirement. And while that number is promising, it's clearly just a start.
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