"According to the Retirement Confidence Survey, 84% of employees plan to tap into their 401(k) for retirement, indicating high reliance on these funds."
"Many workers prioritize their retirement plans, with one-third considering 401(k) accounts a guaranteed income option to fund their lifestyle in retirement."
A significant 84% of employees intend to use their work-sponsored 401(k) accounts as a primary source for funding their retirement, according to the Retirement Confidence Survey. This reliance reflects a strong expectation that these funds will support a comfortable lifestyle after leaving the workforce. Many view 401(k) accounts as essential for financial security in retirement, with almost a third of workers prioritizing them as guaranteed income sources, especially with employer matching contributions playing an important role in encouraging participation in retirement plans.
Read at 24/7 Wall St.
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