fast facts

Retirement Readiness Trends

Each year, the Employee Benefit Research Institute (EBRI) publishes its Retirement Confidence survey, measuring the retirement views and attitudes of American workers and retirees. Key findings from the 2013 survey paint a bleak picture of our confidence in our future financial security:

• Only 13% of workers and 18% of retirees are very confident that they'll have enough money to live comfortably in retirement.
• More than 50% of workers report that they have not calculated their retirement income needs.
• Over 40% of workers who are eligible to participate in an employer-sponsored retirement plan say that their living expenses are preventing them from contributing to the plan.

Take Action Now
If your retirement confidence needs a boost, consider implementing one or more of these tactics:

• Increase your retirement plan contribution amount by one or two percentage points. You probably won't notice the impact of the change on your paycheck, but you probably will notice the impact on your account balance over time.
• If your company matches your retirement plan contributions, save at least as much as you need to earn the maximum match amount. Otherwise you're just giving up free money.
• Compounding is the concept of earning money on your investments and also on your earnings. The longer your money is invested, and the more money you have invested, the greater the potential effect of compounding.

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