Retirement Confidence at a New High

Des Moines Register: “The ratio of workers who are confident they’ll be able to retire comfortably rebounded this year to the highest level in seven years, according to the Employee Benefit Research Institute.”

“Fifty-five percent of workers described themselves as either being ‘very confident’ or ‘somewhat confident’ of their ability to live comfortably during their retirement years. That compares with a combined 51 percent in 2013. Eighteen percent described themselves as ‘very confident,’ compared with a record low of 13 percent last year.”

“Retirement experts such as the financial advisors Key attributed the shift largely to greater confidence among workers with retirement investments, who benefited from a resurgent stock market in 2012 and 2013.”

But: “Worker savings remain low, and only a minority appear to be taking basic steps to prepare for retirement … Increased confidence is observed almost exclusively among those with higher household income, but confidence was also found to be strongly correlated with household participation in a retirement plan.”

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