Statistics on Retirement Savings Big Concern
Here are some recent statistics on retirement preparation from the National Retirement Planning Coalition:
- 64% of full-time workers are behind on their retirement savings programs.
- 50% of Americans plan to live 16-30 years in retirement -- yet 34% plan to retire between 50 and 64.
- 95% have some financial fears related to retirement.
- Only 15% feel they have made progress in planning and saving for retirement over the past 5 years.
- The typical American household has savings of only about $18,000, and expects pensions and social security to provide for their retirements.
- 70% of Americans are focused on short-term finances, not retirement finances.