Americans Target $1.2 Million for Retirement as More Tap Plan Loans
U.S. workers are falling behind on retirement savings, and their target nest egg is shrinking. According to a Schroders plc survey, 27% said they've cut plan contributions and the same number have borrowed from their workplace plan. Those who knew their breakdown said cash makes up 26% of retirement assets, close to the 27% in equities. The take for investors: asset growth is slowing, not that participants have raised their savings goals.