Tuesday, March 15, 2011

Retirement Confidence Is Down

Americans are not as confident in having enough money to live comfortably in retirement, according to the 2011 Retirement Confidence Survey released today. Only 13 percent of the nation's workers are "very" confident the money will be there, down from a high of 27 percent in 2007. This is hardly a surprise.

What is surprising is that only 27 percent are "not at all" confident they will have the money to retire. Although this is the largest proportion ever recorded by the Retirement Confidence Survey, it is far from being the norm. It means the 73 percent majority of workers have at least a little confidence in being able to afford retirement. This may be why: 74 percent expect to work for pay in "retirement."

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