Building Retirement Confidence Amidst Financial Challenges: 9th Annual Transamerica Retirement Survey

Source: Transamerica, February 28, 2008

From the press release:
Volatile market conditions, credit crises and economic uncertainty are not only taking a toll on Americans’ investments, but they are also negatively impacting the way Americans prioritize their retirement savings. Working Americans’ confidence in their ability to retire comfortably declined significantly in the past year, according to the Ninth Annual Transamerica Retirement Survey, a study of retirement-related attitudes and behaviors among the American workforce.

According to the study, only 59 percent of the full-time workers surveyed claim to be confident in a comfortable retirement (down from 75 percent a year prior), while 60 percent believe they could work until age 65 and still not have enough saved for retirement – up from 48 percent. Less than half (48 percent) of the survey respondents agree that they are building a large enough retirement nest egg, down from nearly two-thirds (65 percent) the previous year.

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