Gallup: “U.S. retirees with $50,000 or more in annual income are twice as likely as retirees below that threshold to say a work-sponsored pension plan is a major source of retirement funds. Instead, these lower-income retirees overwhelmingly cite Social Security as a major source of their retirement income…Among all U.S. retirees, Social Security continues to be the most commonly cited source of retirement funds, with 61% calling it a major source, followed by pension plans (36%), 401(k), IRA, or other retirement savings accounts (23%), and home equity (20%). Those sources differ from nonretirees’ expected retirement income sources, with self-directed savings accounts such as 401(k) plans or IRAs topping the list of funding streams that pre-retirees expect to rely most on.”
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