IRI & Jackson: The Language of Retirement

American consumers are not prepared for retirement, as evidenced by both low savings rates and their own assessments of how ready they are to retire. IRI research shows that less than half of Boomers and GenXers have any retirement savings at all, and only one in four say they are confident in their preparations for retirement. Millennials are more likely to be saving for retirement, with 68 percent contributing to workplace retirement plans, but less than a third think of themselves as actively preparing and planning for retirement. And while they aren’t saving or preparing, 80 percent also don’t believe Social Security will provide them with sufficient retirement income. 

Americans of all generations, along with their advisors, are acutely aware they must save money now so they can generate income in retirement. Consumers and advisors agree today’s investors need to save now, save more, and create a plan for how they will use those savings to ensure they have adequate income during retirement and do not outlive their financial resources. 

In this collaborative report, IRI and Jackson gauge how Americans of various ages evaluate their financial preparedness for retirement, their familiarity with and viewpoints toward various financial products, and the financial strategies they're most likely to employ as they prepare for and enter retirement.

Download the Report>>