Optimism about retirement outlook dims
Print this pagePosted on 09 April 2008 by Mark
Permanent URL of this article: http://retirementrevised.com/money/optimism-about-retirement-outlook-dims
Americans’ confidence about their ability to retire comfortably has fallen sharply and stands at the lowest level in 
seven years, according to survey research released today by the Employee Benefit Research Institute (EBRI). The percentage of individuals highly confident about their retirement outlook dropped from 27 percent to 18 percent, according to EBRI.
Other key findings:
- Health care is a big worry: About half of current retirees say they are spending more on health care than anticipated; that confirms findings at the Center for Retirement Research at Boston College documenting the growing health care burden.
- Planning still lacking: Only 47 percent said they have developed a serious financial plan for retirement. That’s up slightly from 42 percent a year ago.
- Savings are inadequate: 72 percent say they have saved something for retirement, but 49 percent say it’s less than $50,000.
Wall Street Journal coverage of the survey is here.
RetirementRevised.com is the companion website of Retire Smart, a 
April 10th, 2008 at 3:27 am
Retirement is about planning and knowledge. Impartial pension education and pension guidance will become a very important feature in the 21st century if we are to avoid a financial catastrophe.
In the UK, the Department for Works and Pensions issued a Press Release this week (April 08, 2008) about the effects of ‘cliff edge retirement’.
Apparently, more than 50 per cent of pensioners felt “unhappy” on the first day of their retirement. More than 10% felt ’sad’ or ‘lost’.
I suspect enlightened employers who get hold of this will think about offering ‘retirement coaching’ and consider ‘flexible retirement’ as an employee benefit.
With increased life expectancy, you are a long time ‘retired’. In the UK for example, over half of 55 years old have a life expectancy of 85.
Mike Jones
Director
www.MyCompanyPension.co.uk