This isn’t to say that parents aren’t worried about how they’ll pay for retirement. It’s a big concern. But, perhaps because it’s less immediate, it’s taking a back seat to concerns over college funding.
Additional points from the study:
- 39% of Americans have developed a plan for retirement saving.
- 31% of women have a plan for retirement, “despite the fact that women can expect to spend more than 50% more time in retirement than men,” the report points out.
- 63% of study participants say they will work part time during their retirement.
In response to the findings, MassMutual acknowledges the difficult situation many Americans are in, but warns against spreading your assets too thin.