Are You On Track for a Comfortable Retirement?
While the economy continues to slowly improve, many workers in the United States remain pessimistic about whether they are saving enough to provide themselves with a comfortable retirement.
In the 2011 Retirement Confidence Survey conducted by the Employee Benefit Research Institute, 27% of workers said they were “not at all confident” about their preparations for retirement. This is the highest number in the 21 years the group has conducted the survey. Only 13% of those surveyed said they were “very confident” about their retirement preparations.
Respondents said their lack of confidence was rooted in the poor economy, including high unemployment, lower investment returns and doubts about the future of the Social Security system.
For most people, little or no retirement savings seems to be their biggest concern. A majority of those surveyed (56%) said they had less than $25,000 in savings and investments. And 29% said they had saved less than $1,000.
How can you make sure you are saving enough to provide a comfortable retirement? Speak with a First Investors Financial Services Representative. He or she can help you determine how much money you should be setting aside to fund your retirement. Your representative can also help you put together a portfolio of mutual funds, annuities and life insurance that will help put your retirement goals within reach.
