Slideshow Great (Unmet) Expectations

Published
  • July 29 2013, 9:42am EDT
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Great (Unmet) Expectations

Men and women alike underestimate how much money they will need in retirement. Thirty two percent of women and 28% of men calculated they will need less than $250,000 in savings, according to an annual survey from the Employee Benefits Research Institute and Mathew Greenwald Associates. Here we present some of the other findings from their survey. A condensed version of this appears in the current issue of Bank Investment Consultant.

Source: Employee Benefits Research Institute and Mathew Greenwald Associates

<b>1. You will have enough money to live comfortably throughout your retirement years</b>

All workers:t13%

Men:t17%

Women:t10%

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<b>2. You will have enough money to take care of basic expenses during retirement</b>

All workers:t25%

Men:t30%

Women:t21%

<b>3. You are doing a good job of preparing financially for retirement</b>

All workers:t17%

Men:t18%

Women:t15%

<b>4. You will have enough money to take care of medical expenses during retirement</b>

All workers:t14%

Men:t17%

Women:t11%

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<b>5. You will have enough money to pay for long-term care during retirement</b>

All workers:t11%

Men:t13%

Women:t9%

<b>6. The Social Security system will continue to provide benefits at least equal to the benefits received by retirees today</b>

All workers:t5%

Men:t5%

Women:t6%

<b>7. The Medicare system will continue to provide benefits at least equal to the benefits received by retirees today</b>

All workers:t6%

Men:t7%

Women:t5%