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How to Increase Your Retirement Confidence
How are we Americans collectively feeling about our retirement prospects? Survey says (and most financial advisors would concur), not so great. Consider this comparative data from an annual study by the Employee Benefit Research Institute:
• In 2007, the EBRI study found that 27 percent of wage earners felt “very confident” their retirement plans were on track. Another 43 percent felt at least “somewhat confident” they were making their desired progress.
• By 2013, those numbers had dropped to 13 percent and 38 percent, respectively.
Importantly, in 2013 a whopping 28 percent felt “not at all confident” that they would have enough money to retire, up from a mere 10 percent who gave that gloomy assessment in 2007. Ouch. Read more…