Research conducted by ING U.S. underscores the growing role that retirement income planning continues to play in the readiness levels of working Americans. The study, Retirement Income Redefined, highlights some potential discrepancies in retirement planning ideologies and practices, and reinforces how retirement is being fundamentally redefined. Among the results, key findings included the following:
33% of retirees confirmed they are experiencing a lower standard of living in retirement than in their working years, based on the monthly income they have to live on.
8% of pre-retirees expected to have a lower standard of living when they stop working and enter retirement.
80% said they would be willing to make a financial trade-off and give up some spending money today in order to secure a level of guaranteed retirement income in the future.
37% expected to run out of money needed to support their desired lifestyle in retirement.
34% believed that $500,000 or less in retirement savings would be enough to provide a comfortable income in retirement or had no idea how much would be needed.
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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access