Saving enough for retirement? Study finds lack of confidence persists, despite market rebound

  • Article by: MARK JEWELL , Associated Press
  • Updated: March 19, 2013 - 4:16 PM

Workers appear to have little faith that the economic recovery and the stock market's climb have left them better-prepared for retirement.

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ciamanMar. 19, 13 2:53 PM

This time the A/P writer has it mostly right. Nice to see that. Right now the average people whom are actually retiring have about $100,000.00 in their retirement fund. Sounds nice if the year was 1980 or so. But people will find that their kids and grand children will need a lot more of help and soon enough their fund will be flat. And another reason why most people feel bad is the fact that most Americans do not have a pension of any kind. None. That is a killer. And the market has not done much for the average American. And people are now too old to deal with stocks and live on a hope and a wing. And already 39% of the older people have a debt problem? Watch that number climb like a goat on a mountain. Up and up it will go. Sorry, but the truth is the truth.

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Wally_99Mar. 19, 13 5:38 PM

Of course not! Most consumers have saved about 20% of what they will need for retirement. People need to save a lot more.

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johnnycgoodMar. 19, 13 6:44 PM

Maybe smokers are on to something knowing they won't have enough for a long retirement anyhow. How much will all those older folks living an extra 30 years eating cat food and draining their family's finances and draining government coffers cost everybody? Oh, anybody know any senior that doesn't require some kind of medical treatment or regular prescription regiment? Hardly.

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phatcatpatMar. 19, 1311:17 PM

People are not saving because they have come to believe the government will take care of them using their neighbors money. I wonder where they came to believe that?

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pitythefoolsMar. 20, 13 1:31 PM

At 15% of my pay, SS and Medicare should be my ENTIRE retirement program. What a scam.

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smarterthanuMar. 23, 13 7:58 AM

I am puzzled why they would bother to measure "confidence in the ability to afford a comfortable retirement"- two very fuzzy concepts. It is easy enough to project what one's retirement income will be and what approximate living expenses will be. I might have nothing in savings and be very "confident", or I may be saving like a miser and still lack "confidence". And exactly what does "comfortable" mean?

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george13Mar. 23, 13 1:39 PM

As we all know Social Security is not now, nor was it ever meant to be a retirement program. It is only a safety net so that a person who cannot earn a living will not starve. If you want to be "comfortable" it is now and always has been up to you.

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pitythefoolsMar. 30, 13 8:52 AM

george13: "As we all know Social Security is not now, nor was it ever meant to be a retirement program"

When SS was started it was 2% of pay. It's now nearly 15%.

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