By Merriman Wealth Management, Wealth Advisor
Published On 07/05/2011
“Americans’ Financial Capability” by Professor Annamaria Lusardi is a new working paper published by the National Bureau of Economic Research. Professor Lusardi’s paper reports the results of a survey of nearly 1,500 Americans regarding their financial status and investment knowledge. As reported by Mary Pilon in an article from The Wall Street Journal, Most Americans Haven’t Planned for Retirement and Other Areas of Concern, there are many areas of concern.
Among other questions, the survey asked whether people have tried to estimate how much to save for retirement. Only 42% of all respondents had tried to calculate how much they would need in retirement. The results were not much better for those closer to retirement. Among respondents who were 45 to 59 years old, only 49% had tried to estimate how much they needed to save for retirement.
Planning for retirement is a crucial step towards successfully saving for retirement. Whether you estimate it on your own, use a free web-based tool, or consult with a reputable financial advisor, take the time to plan for retirement. It is well worth the effort.
P.S. Don't LET YOUR FRIENDS MISS OUT. Share this article:
By Merriman Wealth Management, Wealth Advisor
At Merriman, we manage your wealth so you can lead your best life. We take care of the financial planning and investment management, so you can deal in more possibilities and have the space you need to dream big.
Because it’s time to stop asking "What should I do?" and start saying, "This is what I could do."
Articles Straight to Your Inbox
Subscribe to Merriman's Envision Newsletter to receive in-depth articles and expert commentary, delivered monthly to your inbox:
"*" indicates required fields
By submitting your information, you consent to subscribe to Merriman's email list so that we may send you relevant content from time to time. Please see our Privacy Policy.