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Americans' financial retirement confidence drops

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In the latest results from the Retirement Confidence Profile (RCP), a survey developed by clinical psychologist Dr. Bill Roiter, Americans’ financial confidence in their retirement has dropped six percentage points. The results studied the timeframe between May 2008 and May 2009.

Interestingly enough, there were some positive items from the study, which looked at confidence in four key categories: Financial, Physical, Social, and Personal. The twist–as financial confidence dropped, physical scores improved by five points to 79 percent, “showing that while Americans cannot do much about their finances, they can take better care of themselves.”

“While few of us are as financially secure as we once were, we are learning that retirement well-being includes more than money,” said Roiter. “It is as if a storm has blown away much of the smog that obscures life, allowing for a clearer view of how their worlds work. No one would ask for such a storm but it is having some positive impact.”