| Associated Press | The percentage of workers who say they’ve saved for retirement slid to 69 percent in January, down from 75 percent in 2009, according to a new survey released Tuesday by the Employee Benefit Research Institute.
Perhaps more alarming is the increasing number of workers who say they have little or no retirement savings. More than a quarter of those surveyed said they have less than $1,000 set aside. That’s less than a mortgage payment for many homeowners. |
See also • Survey highlights: Workers struggle to save for retirement |
The EBRI survey also indicates most workers have no clue about how much they need to save for retirement. Less than half of workers surveyed saying they’ve tried to calculate how much they’ll need to live comfortably.
Retirees have lost even more confidence over time, with 19 percent saying they expect to have enough money to live comfortably. The percentage stood at 41 in 2007, fell to 29 percent in 2008 and sunk further to 20 percent a year ago.
That number should be a lot higher than 69%, other factors that have contributed to this situation is the economy, job lost, and cost of living. Most americans will continue to work well past retirement age.
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