Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Confidence in retirement continues to flail - EBRI survey
Old 03-19-2013, 05:56 AM   #1
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Confidence in retirement continues to flail - EBRI survey

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


http://www.usatoday.com/story/money/...onomy/1997521/
__________________

__________________
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.
obgyn65 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-19-2013, 07:59 AM   #2
Full time employment: Posting here.
SumDay's Avatar
 
Join Date: Aug 2012
Posts: 799
Just getting ready to post this from the Wall Street Journal on the same EBRI survey:

Workers Saving Too Little to Retire - WSJ.com
__________________

__________________
SumDay is offline   Reply With Quote
Old 03-19-2013, 08:14 AM   #3
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,492
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 http://www.ebri.org/pdf/surveys/rcs/...9Mar13.RCS.pdf and there is the entire study http://www.ebri.org/pdf/surveys/rcs/....No384.RCS.pdf


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.
__________________
MichaelB is offline   Reply With Quote
Old 03-19-2013, 11:45 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Feb 2011
Posts: 1,629
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.
__________________
ERhoosier is offline   Reply With Quote
Old 03-19-2013, 01:23 PM   #5
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,836
Quote:
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 - WSJ.com
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.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 07:48 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.