Description

The purpose of this study is to examine factors contributing to individual's retirement confidence using the 2004 Retirement Confidence Survey. Retirement confidence includes the views and attitudes of Americans regarding retirement, their preparations for retirement, their confidence with regard to various aspects of retirement, and related issues. The results suggest that those who calculated their retirement fund needs, had more savings, higher levels of confidence in government programs such as Social Security and Medicare, higher household income, better health, and who received workplace financial education and advice had higher levels of retirement confidence than others. The findings provide implications for financial professionals, employers, and policymakers.