Retirement News Today Update, Americans Not Prepared For Retirement

A new Bankrate.com survey shows that 36% of Americans have nothing saved for retirement.  In fact, 14% of people ages 65 and older have no retirement savings, 26% of those 50 to 64, 33% 30 to 49, and 69% 18 to 29, according to the survey of 1,003 adults.

Employee Benefit Research Institute Research Director Jack VanDerhei says that many people are realizing they are not on track in saving for retirement.  There is always a "huge pocket of current workers who are relatively uncomfortable with their overall retirement prospects," VanDerhei says.  He also feels a lot of the "false optimism" prior to the recession in 2008 got washed away, which is good news.  

For more on VanDerhei's full interview on EBRI's retirement confidence survey on Retirement News Today, click here.  This news update was by Retirement News Today, providing online retirement news video content.  Retirement News Today is a featured network of Sequence Media Group.

 

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