American workers are saving more for retirement than ever before, although a growing number are also tapping into those savings to cope with financial hardship, according to a new report from Vanguard.
In its annual “How America Saves” report released Tuesday, the asset management giant analyzed the retirement behavior of nearly 5 million workers participating in roughly 1,300 employer-sponsored retirement plans over the past year. The findings suggest that retirement savers are generally in their strongest position on record, even as signs of financial strain persist for some households.
