Most Americans Still Not Planning for Retirement

A new study by the Employee Benefits Research Institute and Greenwald Associates finds that only 44 percent of workers or their spouses have attempted to calculate how much money they will need to retire. Workers who have done this calculation tend to save more than those who haven’t.

The survey also found that more than a third of all workers – 36 percent – have less than $1,000 set aside for retirement, while fully 60 percent have less than $25,000. Worker confidence that they will be able to retire in comfort has risen slightly in the last five years, but savings behavior will have to improve for these predictions to reflect reality.

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