{"id":6019,"date":"2023-02-07T05:01:43","date_gmt":"2023-02-07T11:01:43","guid":{"rendered":"https:\/\/dudleymediagroup.com\/high-net-worth-individuals-struggle-to-save-for-retirement\/"},"modified":"2023-02-07T05:01:43","modified_gmt":"2023-02-07T11:01:43","slug":"high-net-worth-individuals-struggle-to-save-for-retirement","status":"publish","type":"post","link":"https:\/\/dudleymediagroup.com\/high-net-worth-individuals-struggle-to-save-for-retirement\/","title":{"rendered":"High-Net Worth Individuals Struggle to Save for Retirement"},"content":{"rendered":"<p>The economic reality of retirement has become a growing concern for high-net-worth individuals, according to a new survey from Natixis Investment Managers. 58% of those surveyed said they expect to have to work longer than planned, and 36% worry that retirement may not even be an option.<sup id=\"cite_ref1-0\" class=\"reference\"><a href=\"#cite_note1-0\">[0]<\/a><\/sup><\/p>\n<p>The survey found that the median reported for retirement savings amongst high-net-worth individuals was $625,000 and the average retirement savings rate was 19.4%.<sup id=\"cite_ref1-1\" class=\"reference\"><a href=\"#cite_note1-1\">[1]<\/a><\/sup> This is about 150% and 2.8% higher than the total group of investors surveyed, respectively.<sup id=\"cite_ref1-1\" class=\"reference\"><a href=\"#cite_note1-1\">[1]<\/a><\/sup> However, this still falls short of the amount needed to retire comfortably, which was found to be $1.25 million in a separate survey by Northwestern Mutual \u2013 a 20% jump from the $1.05 million respondents cited a year earlier.<sup id=\"cite_ref1-2\" class=\"reference\"><a href=\"#cite_note1-2\">[2]<\/a><\/sup><\/p>\n<p>35% of millionaires surveyed by Natixis said their ability to be financially secure in retirement is &#8220;going to take a miracle.&#8221;<sup id=\"cite_ref1-0\" class=\"reference\"><a href=\"#cite_note1-0\">[0]<\/a><\/sup> With rising healthcare and long-term care costs, combined with the highest inflation in decades, the ability to save and retire securely is becoming increasingly difficult.<sup id=\"cite_ref1-3\" class=\"reference\"><a href=\"#cite_note1-3\">[3]<\/a><\/sup> This survey suggests that even the rich are having to adjust their expectations and plans for retirement.<\/p>\n<p><span id=\"cite_note1-0\">0. <\/span>&#8220;35% of millionaires say retirement is &#8216;going to take a miracle,&#8217; report finds&#8221; msnNOW, 6 Feb. 2023, <a target=\"_blank\" href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/35percent-of-millionaires-say-retirement-is-going-to-take-a-miracle-report-finds\/ar-AA17aBaa\" rel=\"noopener nofollow\">https:\/\/www.msn.com\/en-us\/money\/markets\/35percent-of-millionaires-say-retirement-is-going-to-take-a-miracle-report-finds\/ar-AA17aBaa<\/a><\/p>\n<p><span id=\"cite_note1-1\">1. <\/span>&#8220;35% of millionaires say retiring securely will take &#8216;miracle'&#8221; Fox Business, 6 Feb. 2023, <a target=\"_blank\" href=\"https:\/\/www.foxbusiness.com\/personal-finance\/35-millionaires-say-retiring-securely-will-take-miracle\" rel=\"noopener nofollow\">https:\/\/www.foxbusiness.com\/personal-finance\/35-millionaires-say-retiring-securely-will-take-miracle<\/a><\/p>\n<p><span id=\"cite_note1-2\">2. <\/span>&#8220;35% of Millionaires Say It Will &#8216;Take a Miracle&#8217; to Retire&#8221; Newsmax, 6 Feb. 2023, <a target=\"_blank\" href=\"https:\/\/www.newsmax.com\/finance\/streettalk\/retirement-savings-investing-outlook\/2023\/02\/06\/id\/1107457\/\" rel=\"noopener nofollow\">https:\/\/www.newsmax.com\/finance\/streettalk\/retirement-savings-investing-outlook\/2023\/02\/06\/id\/1107457\/<\/a><\/p>\n<p><span id=\"cite_note1-3\">3. <\/span>&#8220;Even millionaires concerned about saving enough for retirement, research from Boston firms shows &#8211; Boston Business &#8230;&#8221; The Business Journals, 6 Feb. 2023, <a target=\"_blank\" href=\"https:\/\/www.bizjournals.com\/boston\/news\/2023\/02\/06\/millionaires-retirement-miracle.html\" rel=\"noopener nofollow\">https:\/\/www.bizjournals.com\/boston\/news\/2023\/02\/06\/millionaires-retirement-miracle.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The economic reality of retirement has become a growing concern for high-net-worth individuals, according to a new survey from Natixis Investment Managers. 58% of those surveyed said they expect to have to work longer than planned, and 36% worry that retirement may not even be an option.[0] The survey found that the median reported for [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":6018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"_links":{"self":[{"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/posts\/6019"}],"collection":[{"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/comments?post=6019"}],"version-history":[{"count":0,"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/posts\/6019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/media\/6018"}],"wp:attachment":[{"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/media?parent=6019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/categories?post=6019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dudleymediagroup.com\/wp-json\/wp\/v2\/tags?post=6019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}