Most people are aware that the state of retirement in the United States is looking rather gloomy. But a new study has found the situation could be worse than we thought.
The "Report on the Economic Well-Being of U.S. Households in 2014," just published by the Board of Governors of the Federal Reserve System, has found that, while optimism is improving, the same is not necessarily true of their financial situations. There have been "only mild improvements" in respondents' overall well-being, but the same can't be said for the state of their retirement preparation.
Thirty-nine percent of non-retirees, the study found, "have given little or no thought to financial planning for retirement," while 31 percent have no retirement savings or pension. None.
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