Jumping the retirement planning hurdle

• 30%: Percentage of Americans who think starting retirement planning is difficult.
• 34%: Percentage of affluent Americans who have trouble identifying appropriate retirement products.
• 23%: Percentage of Americans who haven’t started planning for retirement.
• 33%: Percentage of Americans who say they are on track with their retirement planning efforts.
• 79%: Percentage of Americans who are familiar with 401(k) plans, although 22 percent do not participate.
• 68%: Percentage of Americans who say they are familiar with IRAs.
• 84%: Percentage of affluent Americans who are familiar with traditional IRAs; 62 percent say they are familiar with Roth IRAs.
• 40%: Percentage of Americans who report having an IRA.
• 56%: Percentage of affluent Americans who use an IRA in their retirement planning.
• 51%: Percentage of Americans who say they are not familiar with a Roth IRA.
• 43%: Percentage of Americans who make regular contributions to their IRAs.
• 24%: Percentage of affluent Americans who aren’t sure how much they need to retire comfortably.
• 57%: Percentage of affluent Americans who say they are changing their spending habits in today’s economy.
• 73%: Percentage of affluent Americans who have not changed the allocation of their retirement investments to guard against current economic conditions.

Source: Braun Research