1/18/2013 – Are Young Workers On Track For Retirement–Or Smoking Something?
In a survey of defined contribution plan participants conducted last October by State Street Global Advisors and the Boston Research Group, 82% of those under 25 said they were on track to have enough saved to meet their retirement goals. That compares with the 54% of those aged 35 to 44 and 63% of those 55 and older who described themselves as on track. The youngest workers were not only confident, but in some cases downright cocky: 17% rated themselves as “extremely knowledgeable” about financial matters, compared to the 9% of those aged 35 to 44 and 8% of those 55 and older who made that claim.