While equity markets are higher than they were in 2007, housing markets are still substantially lower than before the economic crisis hit. This has kept the National Retirement Risk Index depressed, according to research by the Center for Retirement Research at Boston College.

The National Retirement Risk Index measures the share of working-age American households that are at-risk of not having enough money saved up to maintain their current lifestyles in retirement. The Index is calculated by comparing households' projected replacement rates—retirement income as a percent of pre-retirement income—with target replacement rates that would allow them to maintain their standard of living.

In 2010, the NRRI showed that even if households worked to age 65 and annuitized all of their financial assets, 53 percent of American households were at risk. Since then, the stock market has gone up 45 percent and housing prices have risen by 6 percent, the report's authors found.

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