Americans (Surprisingly) Ready For Retirement, Survey Finds
One of the more surprising findings in a new global retirement survey is just how prepared Americans are, said Kenneth Gelman, vice president, director of market research with AXA Financial, New York.
The survey, titled “AXA Retirement Scope,” found that more than 75% of U.S. respondents are saving money for retirement and 73% say they are “prepared” for retirement.
More than 80% have a plan for where they want to live and what they want to do in retirement, and how much money they will need to reach these goals, the survey indicates.
Americans are starting to prepare for retirement in their 30s, the survey shows, and as part of this preparation, working people are saving, on average, $687 per month toward retirement. Retired people say they had saved $535 per month, on average.
These are the highest amounts of any of the 15 countries in the survey, which had a total of more than 9,200 participants.
The survey also suggests that Americans are well informed about retirement. More than 50% of working adults contribute to an employee-sponsored plan, and 90% say retirement planning is their responsibility rather than the governments or their employers.
Additionally, many seek out information, with advisors, employers, banks and insurance companies being the leading sources of this information.