A recent AdvisorOne article using analysis from Fidelity shows that the auto-enroll feature of retirement plans increases employee participation by an astounding 82%. This feature is helping to boost retirement planning especially among the younger workforce. Fidelity cites that only 20% of employees between the ages of 20-24 participate in retirement plans without auto-enroll, but the percentage jumps to 76% with the feature.
Social Security makes up about 40% of the average retirees’ income, and can not realistically sustain the average worker’s retirement. Planning ahead and finding simpler ways to keep financially secure is the key to success, and starting early can pay big dividends in the future.
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