The bull market in US stocks has fattened retirement accounts for millions of older Americans, with many at the top of the income ladder having built up savings that far exceed their expected spending needs.
An analysis by Vanguard researchers on retirement readiness of baby boomers found that the top 5% of income earners had a savings surplus of almost 30%. The retirement outlook improved for all but the bottom quartile of wage earners, though a savings gap still exists.
The improvement in retirement readiness is encouraging, Kelly Hahn, Vanguard Investment Strategy Group’s head of retirement research, said in a ...
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