Tags: Americans | retirement | savings | pre-retiree

Survey: Many Americans Haven't Started Retirement Savings

By    |   Tuesday, 01 April 2014 10:05 AM

A good portion of Americans don't appear to be well-prepared for retirement.

A survey conducted in January for Franklin Templeton Investments showed that 39 percent of pre-retirees of all ages haven't begun saving for retirement.

"Americans have long struggled with preparing for the realities of retirement," Michael Doshier, vice president of retirement marketing for Franklin Templeton, said in a statement.

Editor’s Note:
Retire 10 Years Earlier With These 4 Stocks


"The survey uncovered several contradictions related to the degree of understanding and often divergent approaches to retirement."

On one hand, 72 percent of pre-retirees said they are looking forward to retirement. But on the other hand, only 25 percent of all respondents believe their retirement will be better than previous generations', and 41 percent think it will be worse.

Meanwhile, 48 percent of respondents are worried about outliving their assets or having to shrink their retirement plan, compared with 44 percent who felt that way last year.

A total of 20 percent figure they will never retire. The younger the respondent, the earlier they believe they will retire. Among those who have retired, 33 percent said it was for reasons beyond their control.

George Whipple, CEO of C. Curtis Financial Group, cites five signals of danger people should watch for in their retirement plans.

He told Fox Business Network there's danger if:

1. "You find yourself worrying about your investments too much.

2. "You haven't heard from your financial advisor in over six months.

3. "You . . . have more than 60 percent of your future tied to the fortunes of Wall Street.

4. "You are buying investments based on hot tips from friends.

5. "You don't have a financial advisor you fully trust for advice."

Editor’s Note: Retire 10 Years Earlier With These 4 Stocks

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
Personal-Finance
A good portion of Americans don't appear to be well-prepared for retirement.
Americans,retirement,savings,pre-retiree
297
2014-05-01
Tuesday, 01 April 2014 10:05 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved