Sometimes, numbers can tell a story better than words can. We have collected a series of numbers from a prominent retirement study* that will allow you to see how other Americans are faring and how you stack up in comparison.
Only 22% of workers are very confident they will have enough money to live comfortably through their retirement ...
... while 41% are either not too confident or not confident at all
A whopping 57% of workers report that the total value of their household's savings and investments is less than $25,000 (excluding home) ...
with 28% have less than $1,000 in savings ...
Only 14% report having more than $250,000 in savings
25% of workers do not know how much they should be saving for retirement
Only 24% of retirees say their expenses at retirement were either somewhat lower or much lower than they expected
When it comes to confidence of having enough money to live comfortably throughout retirement years, only 6% of those with a "major debt problem" felt very confident, whereas those without a debt problem were 35% confident
Only 16% have prepared a formal written financial plan for retirement
Only 35% of all workers fo all ages have talked with a financial advisor about retirement planning ...
What do these numbers mean to you?
These numbers should motivate you into taking action so that you and your family's financial future is secure.
Now, lets develop your plan.
* Source: Ruth Helman, Craig Copeland, and Jack VenDerhei, "The 2015 Retirement Confidence Survey", EBRI Issue Brief, no.413 (Employee Benefit Research Institute, April 2015)