Christine Romans is minding your business with details from a study on retirement savings, and the latest on U.S. stock futures and world markets.
An EBRI report reveals that people are not putting aside enough for their retirement. “You’ve got 57% have less than $25,000 in savings,” Romans says. “That is not enough.” Only about 12% has more than $250,000 saved. “That’s where you want to be,” she says. But more people are less confident about saving for retirement due to job uncertainty, day-to-day expenses and high debt.
Stock futures indicated slightly lower opens this morning as the recession deepens in Europe. Cyprus is set to become the fourth European country to get a bailout and possibly be a headwind for U.S. stocks. After a major rally, “the market's been ripe for a pullback,” Romans says, “so tread carefully here.”