NU Online News Service, Nov. 19, 9:19 a.m. – U.S. adults expect to spend 19 years in retirement and need 60% of pre-retirement income to live comfortably, but 41% have not even tried to determine how much retirement savings they will need to live comfortably in retirement, according to results of a new survey by Mathew Greenwald & Associates Inc., Washington.
Another 41% of the participants tried to calculate how much savings they would need but couldn’t.
Greenwald researchers surveyed 500 U.S. residents between the ages of 40 and 65. Participants had annual incomes of at least $50,000 but had not bought an annuity.
Greenwald conducted the survey for the National Retirement Planning Coalition, Washington. The coalition includes the National Association for Variable Annuities, Reston, Va., along with several other large financial services groups.