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Ways of calculating the amount of retirement savings needed in the United States in 2020

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Source

Release date

August 2021

Region

United States

Survey time period

November 17 to December 29, 2020

Number of respondents

3,109 respondents

Age group

18 years and older

Special properties

U.S. residents working full- or part-time in a for-profit company employing one or more people

Method of interview

Online survey

Citation formats

Methods of assessing retirement savings needed in the U.S. 2020

Published by K. Scholle, Aug 5, 2021
In 2020, the most common method used by employees in the United States to calculate their expected savings needs for retirement, was guessing. Around ** percent of respondents guessed their estimated retirement savings needed, while ** percent estimated based on current living expenses. An additional ** percent of workers used a retirement calculator, while ** percent used an amount given to them by a financial advisor.
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