What You Need to Know
- About two-thirds of Americans haven’t changed their investment approach toward retirement, according to an Empower survey.
- Research showed that participants engaged in their retirement planning have 56% higher savings rates than their unengaged peers.
- However, the number of participants who took out loans increased by 13% over the past 12 months.
Some 63% of Americans are confident that they are financially on track for retirement, notwithstanding rising prices and inflation, according to research released recently by Empower, which administers assets for more than 17 million retirement plan participants.
“When the economy is experiencing a downturn, American workers need guidance and support to help deter them from making financial decisions that may negatively affect them down the road,” Edmund Murphy, Empower’s president and chief executive, said in a statement.
“Despite the challenges our…
