According to a recent study commissioned by Pew, the shortfall between the amount of money needed for a comfortable retirement and individuals’ actual savings could create a $1.3 trillion economic burden through 2040.
As of now, many Americans simply aren’t able to save enough for retirement to overcome this retirement savings gap — 61% of elderly households are projected to have an annual income below $75,000 in 2040, putting the average income shortfall to be roughly $7,050.
These disparities…
