March 21, 2013
The Employee Benefits Research Institute (EBRI) has today released its report highlighting the intense state of insecurity American workers are experiencing as they look forward—with ever increasing trepidation—to a retirement without sufficient money to see them through.
According to the data, American workers have very good reason to be afraid.
Per the survey conducted by EBRI, 57 percent of American workers currently have less than $25,000 in total savings and investments (excluding the value of their homes) put aside for retirement. In 2008, that number was 49 percent. As a result, almost 50 percent of the nation’s workers are either “not too confident” or “not at all confident” that they will have sufficient resources to cover the bills in their retirement—while many who are feeling a bit better about the future may just be kidding themselves.
What’s more, it’s getting worse every year.