Many Americans Haven't Run Retirement Numbers

Americans have a documented fear of running out of money before death. And yet, a new assessment finds that many haven't run even the most rudimentary of numbers, reports MarketWatch. A report from financial-planning platform Evergreen.ai found that 42% of Americans have never calculated how much they'll need to stop working. Even among those hoping to retire within 15 years, a third haven't run the numbers. "People are busy, and people don't want bad news," financial adviser Joseph Spada of Summit Financial tells MarketWatch. "They don't want to know if they have a shortfall—they don't want to hear they shouldn't buy that new car or whatnot. It's human nature."

Financial experts urge workers to do a thorough assessment: Tally expenses, separate "must haves" from "nice to haves," account for inflation and health care, factor in future Social Security and pensions—and figure on needing 25 years of post-work income. The hard part, they say, is starting early instead of waiting for a nasty surprise in their 60s. Similarly, Yahoo Finance reports that roughly a third of non-retired investors have not planned for an economic downturn, and another 10% don't even know if they have a plan in place.