However, they are worried about health care costs.
Tag: retirement outlook
For those 75 and older, out-of-pocket medical costs amount to 20% of their income.
However, retirees spend 32% less than non-retirees.
Workers under age 35 are realizing they need to start saving now, according to Ascensus.
Among those who know how their 401(k) assets are allocated, they had 51% of their assets in equities, Legg Mason learned in a survey.
Nearly half of workers feel confident about their retirement prospects, an AllianceBernstein survey found.
When asked to think about their life in their 60s, 70s and 80s, people said retirement savings should be increased by 31%, Capital Group found in a survey.
This is true for only 43% of all business owners.
Seventy-five percent believe their 401(k) plan is in better shape now than ever before, according to Charles Schwab.
Many respondents to a Prudential Financial survey are misjudging how well-off they are.
Over half have nothing set aside in any type of employer retirement plan.
Areas of focus are financial planning, investing and investor behavior.
Nearly sixty percent have taken an early withdrawal from their retirement account.
The majority describe the American Dream as financial security for themselves and their family, and 54% think it is unattainable.
In addition, a mere 18% of workers are very confident they will be able to retire with a comfortable lifestyle.
This is especially a concern, as only 20% believe they are saving adequately for retirement.
Among those who have made an estimate, the median amount is $650,000, Bankrate.com learned in a survey.
A survey finds that to prevent future retirees from challenges, governments and employers will have to step up to the plate.
However, only 35% of advisers have worked with their clients to develop formal retirement plans.
For most people, saving for retirement does not become pressing until their 40s or 50s, when it may already be too late to craft a realistic retirement income planning strategy.