Tag: retirement readiness

Yet, 23% are waiting three to five years before retirement to start working with an adviser, according to a survey.

For a company with 50,000 employees, this could lead to a savings of $65 million to $97 million a year, Financial Finesse found.

However, only 56% of people have calculated how much income they need to retire, MassMutual learned in a survey.

Executives overseeing the survey report agreed that the U.S. is just beginning to see the real impact of decades of public policy decisions and private employer efforts to fundamentally reshape the retirement landscape.  

Looking at whether retirees will be able to replace 75% of their final-year earnings, the Center for Retirement Research at Boston College found the number of households at risk of facing a shortfall range from 42% to 60%.

The majority of respondents to a Cuna Mutual Group survey feel positive about their prospects for upward wealth mobility; on the other hand, a quarter say they have no emergency savings.

Fifty-five percent of Baby Boomers say they would save more for retirement if they could pay off their debt, GOBankingRates found in a survey.

Ten percent more employers than in 2016 that offer retirement programs are measuring the financial readiness of employees to retire, a survey found.

Nearly half of workers feel confident about their retirement prospects, an AllianceBernstein survey found.

A survey of more than 500 Americans age 55 and older finds the top concern about a lengthy retirement is health care costs and the most significant investment and retirement issue is a desire to maximize retirement income.

Monthly expenses are their second concern, The Standard found in a survey.

In conversation with PLANADVISER, Lincoln Financial Group’s leader of retirement plan services explains why more Americans today cite “retirement” as their No. 1 financial stressor; in some ways, this is actually a great thing.

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.

Rather than look at objective rankings of retirement systems, State Street set out to measure how it feels for individuals to prepare for, approach and experience retirement, and makes recommendations.

A detailed analysis prepared by Aon suggests the typical worker would have to start saving at age 25 and put away 16% of pay annually—including the employer retirement plan match—to achieve a stable retirement outlook by age 67.

However, only 33% are confident about their retirement readiness.

Gen Xers are in a much better financial place, with many having paid down their student loans. This is enabling them to focus on retirement savings.

Obtaining data on participants from retirement readiness tools, recordkeepers and aggregation tools is important in order to tailor effective communications.

Sixty-one percent of all participants surveyed by J.P. Morgan agreed with the statement, “If I could push an ‘easy’ button for retirement and completely hand over my retirement planning and investing to a financial professional, I would.”