Americans Advised to Save at Least 15% for Retirement

Planning for retirement requires a strategy covering inflation, healthcare, debt, and more. People outlive savings due to longer life expectancy. 64% of Americans, mainly Gen Xers, worry more about running out of money in retirement than dying, but only 23% seek financial advice. Mangold recommends saving at least 15% of income for retirement.

The average U.S. lifespan is 78.4 years, but more Americans are living past that age. Planning for a 30-40 year retirement means ensuring income continues. The 4% rule may need adjustments for inflation to avoid running out of money. Working with a financial professional for a retirement plan and income analysis is recommended.

Read more at Yahoo Finance: How Much Should You Have Saved for Retirement If You Live To 100