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URL:  https://boards.fool.com/more-hard-hitting-fox-news-retirement-reporting-34083382.aspx

Subject:  More Hard Hitting Fox News Retirement Reporting Date:  12/13/2018  12:53 AM
Author:  intercst Number:  91085 of 94596

I've never trusted Fox News reporting, but these numbers are at least entertaining.

Retirement crisis: Do you have enough saved? Here's how to tell
https://www.foxbusiness.com/personal-finance/retirement-cris...

On average, employees are contributing about 8 percent of their pay to retirement accounts. That compares with the 16 percent that Aon recommends workers put away in order to retire comfortably by the age of 67.

Industry can also influence a workers’ retirement readiness. Those in aerospace, energy and oil, for example, were more likely to be able to retire by the age of 67, compared with workers in food service, retail distribution and some hospitality professions – whose retirement target was 75 or older.

The Trump administration and conservative lawmakers have sought to help Americans save more for retirement, including an increase of the contribution limits for individual retirement accounts (IRAs).

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I doubt increasing the contribution limits for an IRA are going to do much for a food service worker. They're not paying much in taxes to begin with, so the tax deduction is small to nonexistent.

intercst
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