GRBJ: Americans not saving enough for retirement

GRAND RAPIDS (G.R. Business Journal) -- Americans are not saving nearly enough for retirement.

In fact, nearly half of U.S. workers have saved less than $10,000 for retirement, according to an Employee Benefit Research Institute report from 2013.

In a ranking of the top 20 best retirement systems by The Melbourne Mercer Global Pension Index, the United States ranked 11th, falling behind Denmark, Netherlands, Australia, Switzerland, Sweden, Canada, Singapore, Chile, United Kingdom and Germany.

"People have done such a bad job of saving for retirement that the majority of their income is probably going to be coming from some form of Social Security benefit," said Terry Seely, financial advisor at Capital Ideas in Grand Rapids.

You can read the entire article at the website of our partner, the Grand Rapids Business Journal, or pick up the new edition of the Journal on your newsstand.


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