Broker Check

Will your retirement dreams match your reality?

For more than 30 years, the Employee Benefit Research Institute (EBRI) has conducted the Retirement Confidence Survey, which gauges the views and attitudes of working-age and retired Americans regarding retirement and their preparations for retirement.

Part of the survey takes a deep dive into workers' expectations for sources of income in retirement versus retirees' actual income sources. Here's a couple of highlights of the 2021 survey.

33% of workers expect Social Security to be a significant source of retirement income.

The reality: 62% of retirees say it's a major source of retirement income.

More than 50% of workers believe that workplace retirement savings plans will be a significant source of retirement income.

The reality: Only 20% of retirees say that workplace plans are a major source of retirement income.

26% of workers plan to work for pay in retirement.

The reality: Only 7% of retirees work for pay in retirement.

Surprised? We're not. These numbers are consistent year after year. It's critical that your finances support your retirement vision so there are no surprises when it's your turn.

Given today’s environment, getting a second opinion about your plan might give you confidence that you’re financially positioned to enjoy life and take care of the people you care about. Call us at 605.357.8553 or email to schedule a complimentary, no obligation consultation.

Source: Employee Benefit Research Institute, 2021 Retirement Confidence Survey

This material was developed and produced by FMG Suite from sources believed to be providing accurate information. Raymond James is not affiliated with and does not endorse FMG Suite, LLC.