More investors say their portfolios have recovered from market lows three years ago, but fewer Americans are saving for retirement at all, according to a survey released Tuesday by Edward Jones, a St. Louis-based investment firm.
Fifteen percent of respondents said their portfolios already have recovered from the financial downturn compared with 12% in the firm’s April 2010 retirement survey. However, 25% said they were not currently saving for retirement, an increase from 16% in 2010.
The number of Americans between the ages of 18 to 34 who are not saving for retirement increased significantly, from 26% in 2010 to 49% of those polled in 2011.
The survey also showed that although 54% of Americans' retirement portfolios have not recovered from the economic downturn; that number is improved from a year ago when 67% responded that their portfolios had not yet recovered.