68% of baby boomers feel on track with retirement, while 42% are unsure how to calculate how much spending they will do in retirement.
85% of retirees admit secure income makes a bigger difference than they thought it would in retirement. 94% think employers should prioritize offering secure income solutions through workplace plans.
Without a workplace plan:
- 47% feel on track to retire with the lifestyle they want
- 56% are holding some of their retirement savings in cash
- 56% make investment decisions on their own or by asking family/friends
With a workplace plan:
- 70% of of women versus 56% of men are confused about translating savings into monthly income
- 65% of women and 57% of men worry about outliving their retirement saving
- 59% of women and 75% of men feel on track to retire with the lifestyle they want