The retirement confidence is recovering from the great recession. This fact was highlighted by a thorough survey. It also mentioned that most of the American workers are at least nominally focused on saving something for retirement. Many workers also believe that they have somewhat recovered from the recession while some believe that they may never recover from its impact. A majority of workers also expect that they will be able to attain a comfortable retirement because they are doing enough savings.
Survey Says the Retirement Confidence is Recovering from the Great Recession
The survey that says retirement confidence is recovering from the great recession was the annual retirement survey conducted by the Transamerica Center for Retirement Studies. The research support was offered by Nielsen and the Harris Poll. It offers a deep look at the retirement savings industry of the US via data and graphics that span over 300 pages. It shows that most of the workers are nominally focused on doing some savings for retirement.
It also highlights that the retirement confidence is recovering from the great recession because 62 percent of respondents demonstrated confidence over the fact that they will be able to fully retire and enjoy a comfortable lifestyle post retirement. About 15 percent were very confident while 47 percent were somewhat confident about the same. Around 51 percent of the survey respondents also agreed that they were building a nest egg that was large enough for them to help them live nicely after they opted for retirement.
Recovery from the Great Recession
About 41 percent of the respondents stated that they have somewhat recovered from the great recession. Around 13 percent said that they have not yet begun to recover from it while 7 percent admitted that they may never recover from it. In the survey, approximately 20 percent of respondents admitted that they have fully recovered from the great recession and 19 percent said that they haven’t been impacted by it at all.
The survey that says retirement confidence is recovering from the great recession is a result of wide research that included 50 measures of retirement preparedness and higher-level 5 year trend analysis that looked at overall survey findings among workers of several for-profit companies that had 10 or more employees. The report also examined the influences of demographic shift on the US workforces’ retirement preparedness.