TITLE

What, Me Worry? . .

PUB. DATE
June 2004
SOURCE
Journal of Financial Planning;Jun2004, Vol. 17 Issue 6, p24
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article provides information on the results of the 2004 annual retirement survey by the Employee Benefit Research Institute and the American Savings Council. The survey concluded that people in the U.S. may not be saving much for retirement but they are not worried about it either. Findings of the survey include that a third of workers have not saved anything, yet nearly half of them still believe they will have enough by retirement time; 30 percent of those ages 45 to 54 and 29 percent of those 55 and over have savings and investments, excluding their home, of less than $25,000. 44 percent of those 55 and over have less than $100,000 in savings and investments and 13 percent have more than $250,000; even though 39 percent of current retirees in the survey say their current income is about what it was before they retired and 13 percent say their income needs are higher, only 8 percent of current workers think they will need about the same amount of post-retirement income as pre-retirement income; 10 percent think they will need less than 50 percent of pre-retirement income; 81 percent do not know the correct age they will be eligible for full Social Security benefits; and, 70 percent plan on working during retirement, but 37 percent of current retirees were forced to retire earlier than planned due to health problems or unemployment.
ACCESSION #
13473069

 

Related Articles

  • Reasons to re-evaluatc your retirement plan, today !  // Hudson Valley Business Journal;3/16/2009, Vol. 19 Issue 11, p9 

    In this article the author discusses the importance to re-evaluate one's retirement plan. He primarily cites reasons on the need to re-assess the plans created during retirement, considering the possible changes in one's financial status. He further highlights the significance of continuously...

  • START PLANNING NOW. Quinn, Jane Bryant; Ehrenfeld, Temma // Newsweek;9/24/2007, Vol. 150 Issue 13, p61 

    The article discusses retirement planning for people 50 and over. Anticipating future income needs, making appropriate investments now and planning for long-term care are all essential. Early retirement will reduce Social Security benefits. A fee-based financial planner can help with planning...

  • Planning for Retirement in Hong Kong: An Analysis of Age, Education, and Income Differences. Lee, William K. M.; Law, Kenneth W. K. // Social Development Issues;2004, Vol. 26 Issue 2/3, p109 

    This article examines the extent of retirement planning among middle-aged adults in Hong Kong. The findings show that the majority of respondents did little retirement planning. Respondents who planned for retirement focused mainly on saving and health planning. Furthermore, the findings show...

  • 4 scary steps will motivate employees to start saving now.  // HR Specialist: Compensation & Benefits;Dec2013, Vol. 8 Issue 12, p4 

    The article offers steps for motivating employees to start saving for retirement income. It suggests determining 80% of salary, factoring in the effects of inflation over time, and checking annual Social Security statement to find projected yearly benefits. It recommends multiplying adjusted...

  • TIAA-CREF Survey: One-Third of Americans Are Not Familiar with Their Retirement Plan Investment Options.  // Insurance Broadcasting;2/27/2014, p1 

    The article focuses on a survey conducted by market research firm KRC Research released by financial services organization Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) regarding an employer-sponsored retirement plan investment options in the U.S. Topics...

  • Retirement Savings Delays Quickly Add Up. Manganaro, John // Plan Advisor News;2014, p23 

    The article focuses on a 2014 research by the Insured Retirement Institute (IRI) which found a reduction in total retirement income by more than 20% as a result of postponing retirement salary deferrals by 5 to 10 years. Topics covered include the retirement income for those who begin at age 35...

  • Planning for the Long Term. Taylor, Chris // HR Magazine;Mar2004, Vol. 49 Issue 3, p70 

    Offers tips on preparing for a financially stable retirement life for employees who are planing to retire. Factors that may impact the quality of life of retirees; Idea behind defined benefit retirement plans; Use of 401(k) retirement plans.

  • Should Retirees Play the Social Security Lottery? An Analysis of the "Reset" Strategy. Friedman, Joseph // Journal of Financial Service Professionals;Jan2011, Vol. 65 Issue 1, p74 

    This paper analyzes the recently discovered reset strategy that allows retirees to repay the SSA all benefits received and, having done so, to reapply for benefits at a higher level. This strategy is relevant to retirees who claimed retirement benefits early and later realized that they could...

  • New Ideas on Retirement. Fahlund, Christine // Financial Planning;Sep2013, Vol. 43 Issue 9, p112 

    The author offers tips for financial planners on how to effectively discuss with customers about retirement in the U.S. It advises advisors to practice retirement to allow them to better plan and enable them to map out a transition strategy. It also suggests advisors to let their clients...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics