Employees may be putting money into their retirement accounts, but they still don’t seem to have any faith they’ll be able to retire when they’d like.
In fact, according to the 2011 Retirement Confidence Survey, just 27% of employees reported being “not at all confident” about having enough money to live comfortably in retirement.
That’s the lowest number since the survey started two decades ago.
The survey, which is by Employee Benefit Research Institute (EBRI) and co-sponsored by the Principal Financial Group, also found that just 13% of employee were “very confident” they’d have enough money to live comfortably in retirement, which ties the lowest percentage in the survey’s history.
This lack of confidence is likely to translate into people working well into their golden years. Example: 20% of workers say they now intent to retire later than they had planned.
Readers, are you confident you’ll be able to retire when you planned — and live comfortably in retirement?