Christian Business Networking Association

Confidence to Retire

A survey conducted January 2010, by the Employee Benefit Research Institute (EBRI) and Mathew Greenwald and Associates reveals that American's confidence in their ability to retire seems to be stabailizing, however preparing to retire continues to erode. The survey found that large number of Americans have not savings at all. The survey highlighted five (5) areas of dissatisfaction and stress:

1. Fewer are saving: reported a 5% decline in savings from 2009.

2. Ranks of those with no savings are growing: 27% report less than $1,000 saved; 54% they have saved less then $25,000.

3. Workers postponing retirement: 24% reported postponing retirement for various reasons.

4. Later retirement expected: Americans who expect to retire after age 65 increased to 33% in 2010.

5. Clueless about savings goals: Americans continue to be unaware of how much they need to save for retirement. 46% reported that they and their spouse have tried to calculate how much money they will need to retire comfortably.

A personal financial fitness coach can help you gain a more realistic picture of your projected retirement income need. Identify your "target" and prepare!

Bill Hammond

HRFE Consulting

"identifying where you would like to be, then educating you on how to get there"

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Comment by William L. Hammond on April 10, 2010 at 9:55pm: Karen,
Thanks for the encouragement. This is a "crusade" for me to help folks with their retirement planning. Seen too many approaching retirement and then dreams are dashed.
Bill Hammond

Comment by Karen Bachert on April 10, 2010 at 5:35pm: Good luck to you with your work. I retired a few years ago at 58, one of the best decisions of my life! I loved my work and so I was a bit hesitant. Now I am dedicated to encouraging others to plan for and embrace retirement with enthusiasm and energy! Thanks for sharing some great info with us! Hats off to you for the work you do to help people plan for a live wonderful retirment lives.

Karen Bachert
www.karensbookcanhelp.com

Comment by Karen Bachert on March 29, 2010 at 5:06pm: William,

Thank you for sharing your insight. As the author of the book, Quality of Life: The 5 Stages of Retirement Success, I share you concerns about folks postponing planning for retirement. I try to help my clients realize that retirement is an opportunity and once we begin to look at all the advantages of retirement life, we are willing to work for it, plan for it, prepare for it........ And, yes enjoy it!

Hats off to you for the work you do in helping the ever-growing population of baby boomers to get ready for what I believe is a wonderful adventure.

Hope you will read my book and consider the benefit of sharing it with your clients.

Best regards,

Karen Bachert
www.karensbookcanhelp.com