Even though 68% of workers are saving for retirement, nearly half, 46%, have less than $10,000 saved for retirement, and 50% are not confident they will have enough money to live comfortably in retirement, a survey by the Employee Benefits Research Institute found.

In addition, 50% of workers are not sure they will have enough money to pay for medical expenses in retirement, and 47% of older Boomers are “at risk” for inadequate retirement income. Among Generation X, 45% are “at risk” for inadequate retirement income. Further, only 42% of workers have tried to calculate how much money they need to save for a comfortable retirement.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access