Many workers say they are getting professional financial retirement savings advice, but few say they have taken a systematic approach to forecasting retirement savings needs.
About 50% say they came up with their estimates by guessing, according to researchers at the Transamerica Center for Retirement Studies, Los Angeles, a research center founded by a unit of AEGON N.V., The Hague, Netherlands.
Researchers commissioned a Web-based survey of 3,466 U.S. residents ages 18 and older who work either part-time or full-time for employers with 10 or more employees.
About 72% of the survey participants said they are investing for retirement, and about 32% of those participants – and 23% of all of the survey participants – said they are using professional financial advisors.