A Retirement Savings Shortfall of $4+ Trillion

February 20, 2015

Syverson Strege and Company | Sherpa Investment Managem

A new report by the Employee Benefit Research Institute says that Americans have a retirement savings shortfall in excess of $4 trillion.  Yikes!


The shortfall for late bloomers is greatest for single females ($65,000/household) and least for married households ($19,500).


How did this massive shortfall happen?  In simplistic terms it’s from a lack of planning.  Setting yourself up for retirement should be done early in one’s careers and reassessed annually, especially when circumstances change (marriage, kids, increased spending).


I suspect that early planning isn’t done due to uncertainty over how much to save and how to invest those dollars.  A fee-only planner becomes crucial in assisting individuals and families with setting appropriate goals and adjusting them over time.  


– Lance