Do Individuals Know When They Should Be Saving for a Spouse?

IB#19-5

The brief’s key findings are:

  • The retirement savings a household needs depends on its total earnings.
  • For many dual-earners, only one person has a 401(k), so the question is whether the saver considers the non-saver’s earnings and chooses a higher contribution rate.
  • The analysis shows that the 401(k) saver in a dual-earner couple does not have a higher contribution rate than savers in other couples.
  • As a result, dual-earners with just one saver end up saving much less of their total household earnings for retirement than other couples.

The CRR wants to hear from our website users like you. Would be you willing to take a short survey?

Yes, take me to it.       No, thanks.      Not now, but ask me later.