Fidelity’s retirement savings report highlighted many positive trends, showing that investors are upping their saving game. How do you stack up? Let’s break down five of the report's findings to see where you stand, and more importantly, what you can do to improve.
1. Automatically Enrolled? Evaluate Your Investments and Savings Rate
Fidelity found that a record level 35% of employers now use automatic enrollment for their 401(k) plan. Automatic enrollment means a company diverts a certain percentage of an employee’s pretax salary into a retirement plan, meaning it’s opt-out, not opt-in.