People save less for retirement but still remain confident
March 19 , 2014
A new survey reveals that about 36 percent of Americans have saved less than $1k for their retirement but a higher proportion of the population remains confident that their golden years will be spent in comfort.
The daily cost of living is holding people back when it comes to saving but the confidence figure continue to improve. In fact, it was 13 percent last year and has now risen to 18 percent.
"This increased level of confidence does not appear to be founded on improved retirement preparations," the LA Times reports. "In the aggregate, worker savings remain low, and only a minority appear to be taking basic steps to prepare for retirement."