Americans may say they're more confident than ever about financing their retirements but the question remains: Will they actually have enough money?
Americans are more optimistic than they've been in years about life in retirement. Yet one question remains: Will they have enough money?
Yet workers' confidence about retirement living may be unrealistic, given the low share of those who have actually run the numbers on how much money they will need in those years. "We did see those types of discrepancies between confidence and retirement needs calculations before 2008," Copeland said."There is a disconnect."
It is true many workers will have a lot of catching up to live as well in retirement given their current savings. Forty percent of workers in the EBRI study report that the total value of their household savings and investments, excluding the value of their primary home and any workplace savings plans, is less than $25,000 — this includes 19% who say they have less than $1,000 in savings.
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