Perception vs. Reality
There’s an alarming difference between perception and reality for current and future retirees.
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Where will your retirement money come from?
One survey shows there’s an alarming difference between perception and reality. Only 33% of today’s workers expects social security will be a major source of retirement income but 70% of retirees report that it is. That may not be enough since social security paid retired workers an average monthly benefit of just over $1200.
There’s more, 42% of workers expect employers sponsored retirement plans to play a big role. Yet, only 20% of those retired report that it actually does.
Today’s workers also have high expectations for their IRA’s, 27% believe their IRA will be a major source of income but only 13% of retirees say it is. Seventy-five percent of today’s workers expect to keep working after they retire. In reality only 22% of retirees remain on the job.
Take steps to make sure your perception of retirement becomes a reality. Call today and we can develop an approach that will help you pursue your goals.