9/17/2015 – Retirement confidence is up, but why? (CNBC)

Sep 18, 2015 Comments Off by

Savers in several countries “experienced a dramatic increase in their confidence that they would meet retirement goals,” according to a new survey commissioned by State Street Global Advisors. Some 51 percent of U.S. investors participating in an employer–sponsored retirement plan said they were very or extremely confident they will meet their retirement goals, up from 21 percent in 2013.

The survey was conducted just months after the Employee Benefit Research Institute, or EBRI, and Greenwald & Associates conducted a 2015 Retirement Confidence Survey, which found 22 percent of workers very confident about having enough money for a comfortable retirement, up from 13 percent in 2013. But dig deeper and it becomes clear that even if confidence is rising, it may not be spreading more widely.The increase in retirement confidence comes almost entirely from Americans who report having a retirement plan, either an IRA, a traditional pension plan, or some kind of defined contribution plan, such as a 401(k) plan, according to the EBRI and Greenwald & Associates survey. In 2013, 14 percent of that group was very confident about having enough money for a comfortable retirement, and two years later, that share doubled.In contrast, among the 32 percent of Americans who reported not having a plan, just 12 percent in 2015 were very confident about having enough for a comfortable retirement, which the report said was statistically unchanged from 2013. IRA accounts are widely available, but only slightly over half of all American workers work for employers or unions sponsoring a retirement plan.

Read the full article in CNBC.
Financial Landing 2015

About the author

The author didnt add any Information to his profile yet