According to the 2019 Retirement Confidence Survey of Americans 25 and older, just out from the Employee Benefit Research Institute, 82 percent of retirees are confident they will have enough money to live comfortably throughout retirement. That’s a sharp rise from 75 percent a year ago and comparable to the highs in 2005 and 2017.
The outlook among those still in the workforce is slightly less rosy. In that group, 67 percent of workers are confident they will have enough money to live comfortably throughout retirement, up from 64 percent a year ago and 60 percent in 2017. That figure is near the peaks of 1999 and 2004.
But should they be so optimistic? The EBRI survey also found that 40 percent of workers said they have less than $25,000 in savings and investments, not counting their home and any traditional pension plans. Another 9 percent had $25,000 to $49,999 and another 9 percent had $50,000 to $99,000. That’s 58 percent who have less than $100,000 saved.
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