EBRI says more families are placing themselves at risk of running short of money in retirement due to their increased likelihood of holding debt while in retirement.
Seventy percent of female financial advisers say women are underserved
Among those who said they would like to save more, 56% said retirement was a top reason; however, LIMRA found that debt is a major obstacle preventing many people from saving as much as they would like.
Their primary concerns are the continuation of Social Security and rising health care costs.
Only half of couples of all ages discuss these important topics
“Eighty-six percent of employees say that if their employer improved benefits or added access to an investment plan, it would have a positive impact on them at work, resulting in higher job satisfaction and greater commitment to the organization,” Mercer says.
However, researchers say their outcome could possibly improve, given the fact that they still have a long time horizon to save, the markets could deliver strong returns and the government could save Social Security.
LIMRA says that retirees can expect to pay 13% of their income each year in retirement on health care and long-term care expenses.
People are carrying an average debt load of $140,113, GoBankingRates.com found in a survey.
Financial planning guidance and Social Security counseling top the list of financial services Hispanics would like from their employers, according to a survey by MassMutual.
A significant number of Americans underestimate how much they are likely to spend on health care in retirement, according to a recent Financial Engines survey.