Tuesday, March 19, 2013

2013 Retirement Confidence Survey

Most workers aged 55 or older have little savings, according to the 2013 Retirement Confidence Survey. More than one-third has less than $10,000 in savings and investments, and the 52 percent majority has less than $50,000. Only 42 percent have more than $100,000.

Meager savings is one reason why most older workers (54 percent) say they will never retire or will postpone retirement until age 66 or older, up from 37 percent who said this a decade ago. Only 17 percent of workers aged 55 or older are "very confident" they will have enough money to live comfortably throughout their retirement years.

Source: Employee Benefit Research Institute, 2013 Retirement Confidence Survey

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