In our last series, we looked at inflation and the stock market. Now, we're beginning a new segment to teach you what you'll need to know in planning for retirement.
It would seem that millions of Americans fear retirement, and all will good reason. How do you know how much you’ll need, how long you’ll need it, and where you should keep it? The latest survey from the Employee Benefits Research Institute found that for the first time since tracking the numbers, less than 50% of workers are confident about the ability to retire comfortably. The number "very confident" has halved in a few years to just 13%, and the number who have no confidence at all has nearly tripled to 27%, standing at more than one in four. The problem is that most of these Americans simply don’t know how to calculate the appropriate numbers to know how much they’ll need to comfortably and safely retire. Only 42% of workers have even tried to work out the numbers. Coming up on the Money Mattesr link here on connectmidmichigan.com, we'll give you tips that should give you a better idea of how to take the guesswork out of retirement planning and help you feel more confident in knowing where you stand.
