Tags: us | economy | Market | Volatility | Hinders | Retirement | Planning

Survey: Market Volatility Hinders Retirement Planning

By    |   Wednesday, 09 Mar 2011 09:07 AM

The stock market has exhibited huge volatility over the past 2 ½ years, plunging 58 percent from October 2007 to March 2009 and then rebounding 98 percent since then. American adults interviewed in a survey by the National Institute of Retirement Security say that volatility is having a major negative impact on their retirement planning.

Indeed, 73 percent say the volatility makes it impossible for them to predict how much money they will have in their nest egg when they retire.

And it’s not just the stock market. A whopping 84 percent say economic conditions are making it more difficult for them to have a secure retirement too. More than 54 percent are very concerned.

People certainly aren’t expecting to live large in their golden years. Only 11 percent expect their retirement year to include leisure, travel, restaurants, and/or hobbies.

So it’s no surprise that nearly 90 percent of respondents think the retirement system needs to be reformed. But they aren’t optimistic about that. Almost 80 percent say Washington politicians don’t understand how difficult it is now to prepare for retirement.

Retirement experts say all the worry is understandable. “You can’t control how long you’ll live, which is a huge determinant of retirement income,” Francis Kinniry, a principal at Vanguard Group, tells The Wall Street Journal. “And you can’t control the markets.”

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The stock market has exhibited huge volatility over the past 2 ½ years, plunging 58 percent from October 2007 to March 2009 and then rebounding 98 percent since then. American adults interviewed in a survey by the National Institute of Retirement Security say that...
us,economy,Market,Volatility,Hinders,Retirement,Planning
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2011-07-09
Wednesday, 09 Mar 2011 09:07 AM
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