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Confidence in retirement continues to flail - EBRI survey
Old 03-19-2013, 04:56 AM   #1
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Confidence in retirement continues to flail - EBRI survey

About 28% of Americans don't feel they are ready... Highest level in 23 years....

Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 03-19-2013, 06:59 AM   #2
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Just getting ready to post this from the Wall Street Journal on the same EBRI survey:

Workers Saving Too Little to Retire -

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Old 03-19-2013, 07:14 AM   #3
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Some background on the previous posts, both refer to a recently released study.

EBRI is the Employee Benefit Research Institute. It primary sponsors are retail investment companies in the finance industry, such as Fidelity. The news articles refer to the 2013 survey, recently released. Here is the EBRI press release and there is the entire study

Edit to add: after browsing thought the survey, it looks like it is entirely focused on saving and investing, and does not consider Social Seciurity, Medicare, or employer pensions.
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Old 03-19-2013, 10:45 AM   #4
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Michael- thanks for links to source documents.

Survey is rather concerning. True it did not focus on SS or Medicare, but SS is getting trimmed (e.g. chained CPI change) & budgets of both parties inc cuts in Medicare. And employer pensions in US employers are generally getting less generous (both lower benefits & fewer employees eligible). Couple that with nex gen's 'anti-LBYM' spending habits & even traditional retirement (forget ER) may not be possible for many in the future.
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Old 03-19-2013, 12:23 PM   #5
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Originally Posted by SumDay View Post
Just getting ready to post this from the Wall Street Journal on the same EBRI survey:

Workers Saving Too Little to Retire -
I listened to the webcast and it covers the usual ground. I can see why investment companies would want people to save more (more fees for them), but there is definitely big trouble in the US retirement world as the 401k has not taken up the slack left by the demise of the DB plan. That's because having to contribute to a 401k rather than getting a DB plan shifted costs from employer to employee and income has stagnated while other costs like healthcare and college have sky rocketed so most people simply can't afford to save enough.

One thing I really liked though was the idea for a senior Peace Corps. I'm looking at ER now and plan to volunteer. I'd definitely get involved in a state/federal/local government civic effort that paid minimum wage of offered health care.
"The needs of the many outweigh the needs of the few, or the one." - Spock
Retired Mar 2014 at age 52
Target AA: 70% equity funds / 28% TIAA-Traditional/ 2% cash
Target WR: 0.0%,
Income from pension, rent, and eventually SS
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