Wednesday, May 25, 2005

Prudential Financial Survey Uncovers Roadblocks to Retirement

According to the results of a survey conducted by Prudentail Financial, during the first 10 years of retirement, 70% of Americans currently expect to continue working to supplement income and continue to build their retirement nest egg. In the study--Roadblocks to Retirement, 60% of those Americans aged 30-69 who were surveyed in late December 2004 indicated they are "behind schedule in saving for retirement and the vast majority now expects to work longer and/or to continue working in some way in retirement." Four in 10 indicated they were forced to retire (nearly half of them under 60), and almost two-thirds those indicated they were not financially prepared. Looking forward, many expressed a desire for a new approach to make retirement simpler and more accessible, with education and training and more objective recommendations about how to save and plan; in particular, they found appeal in the idea of a holistic training program aimed at helping Americans transition into retirement, something similar to what the military offers to help members adjust to civilian life.

Source: Press Release Prudential Financial (May 24, 2005)

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