More than two in five Americans inaccurately assess their retirement preparedness, perhaps worrying more than they need to, or not being concerned enough about how much money they’ve saved, according to the Center for Retirement Research at Boston College’s latest National Retirement Risk Index research, sponsored by Prudential. The research measures the percentage of working-age households “at risk” of being unable to maintain their standard of living during retirement.
More than 40 percent of households’ self-assessment conflicts with NRRI’s assessment about whether they are at risk of being unable to maintain their standard of living in retirement.
Employer-sponsored benefit plans can provide the best resources for individuals to narrow the knowledge gap, particularly through financial wellness efforts that include education, tools, advice and solutions that help meet foundational financial needs. In fact, recent Prudential research confirmed people are more likely to use financial counseling services and tools when they can tap into them at work.
Download from Awareness to Wellness, Prudential’s companion paper to the NRRI report. To speak to one of Prudential’s representatives about financial wellness, contact Discretion Winter.
Download the graphic below: "Do You have a Good Sense of Your Retirement Readiness?"
Editors, to download individual graphics, click on the images, below:
22 March 2017
A cautionary retirement tale
The Prudential Insurance Company of America, Newark, N.J., and its affiliates.
Other articles in Featured Stories:
- Quincy Krosby: Geopolitical concerns continue to shadow market this week
- Quincy Krosby: Market stays wary on North Korea situation; important data coming this week
- Going back to school with a plan to beat student loan debt
- Quincy Krosby: Corporate earnings strength, upbeat guidance drive Dow gains
- Filling the skills gap with investments in workforce retraining