Planning for your retirement is a very important matter that should be handled with extreme caution. Your retirement plan will determine the standard of living that you will be enjoying, when you retire.
Unfortunately it seems that most people don’t realize the importance of retirement planning, and instead of asking a qualified financial planner, to determine how much money they will need to save to retire, they just guess.
Yes you heard right; as much as 44% of the total number of American employees, just guess the amount of money they need to save until they retire. 26% say that they work on an estimate by themselves, while 18% ask for advice from a financial planner. Other workers totaling around 9% try to read up as much information as they can to make an informed guess, and others use online tools that help them calculate this sum.
The survey that came up with the above mentioned percentages also revealed that employer retirement plans are considered as a main resource for retirement income.
In fact, as much as 4 employees in 10, say that they contribute money in an employee-sponsored retirement plan, and they expect that the money that they would have accumulated, will provide their main source of income when they retire.
Workers, who have been saving for their retirement in a retirement plan, IRA or other pension plan, expect to receive major returns from their savings, in the form of retirement income. Non-savers on the other hand, mention social security, and also employment as their major source of income, after they retire.
Reference: http://www.planadviser.com/article.php/4188
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