The Employee Benefit Research Institute (EBRI) has released its annual Retirement Confidence Survey (RCS). While there has been somewhat of an uptick over recent results, the overriding message is that most Americans are either not confident or are uncertain about having enough savings for a secure retirement. The 18% who are very confident about having a secure retirement is an improvement over last year's 13% figure. Another 24% indicated that they were not at all confident. Clearly, there is a lot of uncertainty out there. Other key points from the RCS:
How do we solve the confidence problem? While the RCS points out that there are some signs of improvement, I think that the bigger picture is that there is still a very long way to go for people to feel generally more optimistic. Debt and everyday expenses are on the minds of many. How can we talk to people about saving for the future when the present is its own challenge? Telling people that they need to save more for retirement is all well and good, but it doesn't get at more immediate needs. Creative ideas that will resolve both current and future challenges is what is needed.
Blog Author - Ken Felsher
With over 25 years of writing, editing, and research experience. I enjoy sharing with my readers my love of working with content on a variety of subjects.
All 401(k) 402(g) Boomers Catch-up DB Dc Deferral Limit Defined Benefit Defined Contribution ERISA Healthcare Participation Pension Professionally Managed RCS Retirement Retirement Confidence Tax Code Vanguard Women Working