Retirement Confidence Belies Vast Unpreparedness

54% of Investors Have Less Than $25,000 Saved

March 15, 2010

American workers are feeling more confident about being able to retire than they were last year, but their expectation to stay in the workforce longer to make up for a savings shortfall and the fact that 54% of the population has less than $25,000 saved has retirement experts extremely worried. "The idea that you can continue on working longer is really a pretty risky proposition," said Daniel Houston, president of retirement, insurance and financial services at The Principal. "Half the time, people retire before age 65, whether it's due to their health, their spouse's health or that they find their skills are no longer needed."

The full article is available to Money Management Executive subscribers only

Already a print subscriber? As a print subscriber, you are entitled to online access. Please click here to activate your account.