How Ready Are Americans for Retirement? Here are 12 New Stats

Fidelity Investments has published a new savings assessment based on fresh insights from more than 3,500 survey responses from clients using the firm's retirement planning platform. A key finding is that Americans' financial strength has declined in recent years. While each generation has experienced retirement readiness setbacks, Fidelity reports, millennials have experienced the sharpest decline. According to the study, over half (52%) of those surveyed are not on target and face modest to significant adjustments to their planned retirement lifestyle if they don't take action to make up the shortfall. This is up from 46% in last year's edition of the survey, underscoring what Fidelity's planning experts call a concerning but correctable downturn in nationwide retirement preparedness. The study includes some positive findings as well, such as the fact that working Americans have some powerful levers to pull with respect to improving their retirement outlook. Specifically, Americans who commit to saving more today in portfolios that are professionally designed and held for the long term can put themselves in an excellent position to enjoy their life after work. "Taking these three actions in tandem can bring America's retirement score all the way from yellow to dark green," said Rita Assaf, vice president of retirement at Fidelity. "However, even taking just one of these actions can significantly improve preparedness. With everyone having unique circumstances though, it's important to customize what works best for your household." See the slideshow for a rundown of 10 key data points that show where Americans stand with on retirement readiness. Some are positive and some negative, but all help to paint a clearer picture of the nation's retirement outlook.