Fewer Americans Prepared for Retirement

24/7 Wall St.

A recent study from MIT revealed that nearly half of Americans die with less than $10,000 in assets. Whether or not that’s due to poor planning or some unexpected spending, it’s still a shockingly high number.

According to the latest survey on retirement preparedness from Ameriprise Financial (NYSE: AMP), less than 70% of Americans say they are making preparations for retirement, the lowest percentage in the three years the firm has been conducting the survey.

The survey looked at 30 U.S. metropolitan areas to find out where Americans are most prepared for retirement. The top three cities are Hartford-New Haven, San Diego, and Minneapolis-St. Paul. The three cities where residents are least prepared for retirement are Washington D.C., Charlotte, and Indianapolis.

An Ameriprise executive noted:

“While the majority of Americans we surveyed express positive feelings about retirement, we’re still seeing a significant lack of confidence – in fact…

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