Morning Business Report: Americans save more, markets climb, and a bold prediction on lifespan
Americans are contributing a higher percentage of their earnings to retirement accounts than ever before.
(LILAMAX)- Americans are contributing a higher percentage of their earnings to retirement accounts than ever before. According to Fidelity, the average savings rate has climbed to a record 14.3%, up from 13.5% in 2020. This rise is being driven in part by more employers using automatic enrollment and starting contribution rates at 5% instead of the traditional 3%. A key…