Dual-income couples are 'in the worst shape' for retirement
, Alicia H. Munnell, the director of the Center for Retirement Research at Boston College, writes that"two-earner couples are in the worst shape" for retirement.
A new study using data from the Survey of Income and Program Participation reveals that in dual-income couples between ages 25 and 54 who contribute to a 401 or other workplace retirement plan, the task of contributing is often relegated to one spouse, Munnell writes. But even then, the spouse isn't saving enough.
The study did not look at non-retirement savings accounts held by the couples. IRAs, which anyone can open and contribute to, are also funded with pretax dollars, but their thresholds are much lower — $6,000 for 2019, or $7,000 if you're over 50 — so it limits what a spouse without access to a 401 can do when it comes to maximizing savings.
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