Wednesday, March 19, 2014

Confidence in Retirement

American workers are getting more confident about their retirement, according to the newly released annual Retirement Confidence Survey. More than half of all those surveyed – 55 percent – report that they feel confident about their ability to retire comfortably.

But that confidence isn’t very strong. Only 18 percent of those surveyed said they were “very confident” about retirement. Even that number is higher than it’s been in recent years – it was at 13 percent in 2013. Before the bottom fell out of the market, as many as 27 percent of American said they were very confident about their retirement in 2007.

Not surprisingly, the most confident group was the wealthiest. But among all income cohorts, by far the most confident group was those who had a solid, well-established retirement plan in place.

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