Ages 55 to 64 most aggressive time for retirement savings.
More than half of respondents surveyed by MetLife for the "Retirement Readiness Index" said they were behind in retirement planning and one-quarter said they were "significantly behind." Thirteen percent went so far as to say they had no retirement goals and 7 percent haven't started saving.
But within five years of retirement, boomers have completed an average of eight tasks, compared with those between 6 and 15 years who have only completed five.
Over half of pre-retirees have thought about how much they'd like to work in retirement, and how to strike a balance between work and leisure. However, less than one-third of respondents have tackled more aggressive--and less fun--planning steps like looking into possible employment opportunities in retirement. Just 34 percent have developed a back-up plan to sustain themselves through an extended setback.
Haven't started saving 7% No retirement goals 13% Significantly behind in planning 25% Behind in planning 55%
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||FORWARD MOTION|
|Publication:||Boomer Market Advisor|
|Date:||Jun 18, 2010|
|Previous Article:||Boomers should invest in dividend-paying value stocks.|
|Next Article:||Boomer women not ready for retirement homes.|