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In a recent study, we used our updated National Retirement Risk Index (NRRI) to see whether households have a good sense of their own retirement preparedness — do their expectations match the reality they face? That is, do households at risk know they are at risk?
Understanding households’ self-assessed retirement preparedness is important because households that are not worried enough will not save enough and households that are too worried will unnecessarily sacrifice their preretirement standard of living.
The…
