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EBRI Retirement Confidence Survey Spotlights Delining Retirement Confidence
Inflation and Social Security’s unstable financial trajectory emerged as key indicators of declining retirement confidence among U.S. workers and retirees, according to the Employee Benefit Research Institute’s (EBRI) 36th Annual Retirement Confidence Survey. The report’s “Key Findings” section opens with this comment: “Fewer Americans feel confident about having enough money to live comfortably in retirement, with only three in five workers and three in four retirees reporting confidence.” The adequacy of personal savings and the devastating effects of inflation were cited as significant worker concerns, while retirees pointed toward the precarious future of Social Security and Medicare as reasons while confidence has declined.
According to EBRI, the Retirement Conference Survey “is the longest-running survey of its kind, measuring worker and retiree confidence about retirement, and is conducted jointly by the Employee Benefit Research Institute (EBRI) and Greenwald Research.” The survey captured the views of over 1,000 workers and over 1,000 retirees and included the perspectives of hundreds of caregivers. All respondents were age 26 or older, and the survey was conducted in January of this year.
Read the full survey report here…