Americans in every income bracket are concerned about retirement, according to a new BMO Harris survey.
About half of U.S. residents said they will likely delay retirement
or work part time in retirement
because their retirement savings are inadequate, according to the survey. In addition, 57 percent of U.S. adults are not confident in their ability to save for their ideal retirement lifestyle.
"This is a critical wake-up call to everyone, no matter what your age," said Mike Miroballi, president and chief operating officer of BMO Harris Financial Advisors, in a statement. "Our best advice — start now. Get smart about planning and saving for retirement, and get educated about the many strategies and tools available to help maximize your savings."
BMO Harris provides several tips for maximizing your savings, including starting saving
at an early age; meet with a financial advisor
; take advantage of your 401(k); and consider a Roth IRA. In addition, parents should educate their children about saving.
The BMO Harris survey included 1,032 U.S. adults.