Only about one in seven employees say they are on track to retire with 80% of their income, according to new research.
Financial Finesse, El Segundo, Calif., published this finding in a summary of results from a new survey on employee financial trends. The research is based on an analysis of questions received by the company’s team of certified financial planners and employees’ responses to an online financial wellness assessment.
Only 14% of employees report being confident they are on track to retire with 80% of their income (or their goal) in retirement. This is a slight drop from 15% in the first quarter of 2011, the survey says.
Despite a strong market rebound over the last two quarters, employees remain uncertain about their investing decisions and ability to retire. The survey says this “appears to be a result of employees continuing to realize they are not on track to retire comfortably since the recession.”
Among the report’s other key findings: