Retirement Is Forced Upon Roughly 1 in 4 Americans: Fed

There are different ways Americans can put away savings for retirement. Common funds include a 401(k), 403(b), Keogh, or other through an employer. About 4 in 10 Americans have savings outside of a retirement account. More than 30% of Americans are funding an IRA of Roth IRA and slightly more than 20% have defined benefit pension, through an employer. Income-producing real estate or land is expected to help fund 14% of retirements, while one in 14 expect to obtain income from ownership of a business.

One question that dims the prospects for a comfortable retirement, six in 10 non-retirees who hold self-directed retirement savings accounts, such as a 401(k) or IRA, have little or no comfort in managing their investments.

Nearly half of retirees in 2018 retired before age 62, and one-fourth retired between the ages of 62 and 64. The current full retirement age to collect social security for people born in 1960 and later is 67.