Retirement Preparedness in America Declines Amidst Economic Volatility.

According to Fidelity Investments' 2023 Retirement Savings Assessment, retirement preparedness among Americans has dropped below pre-pandemic levels, with more than half of those surveyed falling short of having enough savings to cover everyday essentials when they leave the workforce. The retirement score for the average American household has dropped into the "fair" range, with 34% needing to make significant adjustments to afford retirement, while 18% presently require moderate changes to save enough for the basics. Fidelity's research indicates people can significantly improve their retirement readiness by saving as much as possible, examining their asset mix, and re-evaluating their retirement plan.