Financial Experts Say Americans Should Save 15% Of Pay For Retirement

About three out of four working Americans are saving for retirement but a new study finds not everyone is saving enough. <br/><br/>

Wednesday, August 21st 2019, 9:45 am

By: News On 6

Video Player is loading.

Current Time 0:00

Duration 0:00

Loaded: 0%

Stream Type LIVE

Remaining Time 0:00

Financial Experts Say Americans Should Save 15% Of Pay For Retirement

About three out of four working Americans are saving for retirement but a new study finds not everyone is saving enough.

Bankrate.com Chief Financial Analyst Greg McBride says you should start putting away 10% with a goal of eventually a full 15% of your income to ensure you have enough to retire.

"If you are not saving at least 10% of your income for retirement you need to get there pronto and once you do look to bump that up," said McBride.

A new survey from Bankrate.com found 29% of people are increasing their retirement savings compared to last year but half are contributing the same and 16%.

","published":"2019-08-21T14:45:51.000Z","updated":"2019-08-21T14:45:52.000Z","summary":" About three out of four working Americans are saving for retirement but a new study finds not everyone is saving enough.

","affiliate":{"_id":"5c784a0c4961cb23ad330098","callSign":"kotv","origin":"https://www.newson6.com"},"contentClass":"news","createdAt":"2020-02-01T18:08:03.215Z","updatedAt":"2025-03-25T15:44:03.438Z","__v":4,"breakingNews":[],"entities":[{"_id":"624220256880e45323ac78fa","text":"Greg McBride","type":"PERSON","__v":0},{"_id":"624220256880e45323ac7901","text":"Bankrate.com","type":"ORGANIZATION","__v":0}],"openInNewWindow":false,"hasBeenCheckedForEntities":true,"rendered":3,"show":true,"link":"/story/5e35be83fcd8ef694720e0fc/financial-experts-say-americans-should-save-15-of-pay-for-retirement","hasSchedule":false,"id":"5e35be83fcd8ef694720e0fc"};