The Employee Benefit Research Institute (EBRI) released its annual Retirement Confidence survey recently, and the survey revealed an important reality: most workers are behind schedule on planning and saving for retirement, and very few workers are ahead of schedule.
Check out the chart above. Overall, 64 percent of workers said they were “a little” or “a lot” behind schedule.
Meanwhile, a mere 11 percent said they were ahead of schedule. The scary part? That number is actually higher than in years past, when 5 to 8 percent of workers said they were ahead of schedule.
The good news is that 25 percent of workers are “on track”, up 4 percent from 2011.
It’s interesting to compare the current numbers to the numbers from 2005, when the economy was at its height. That year, 37 percent of workers were “on track”. But most workers were still behind schedule; 55 percent of workers said they were “a little” or “a lot” behind schedule in 2005.
The moral of the story? Planning and saving for retirement is hard, even in the good times.
Source: 2015 Retirement Confidence survey
Photo by www.SeniorLiving.Org
