Fewer Save But More Are Confident About Retirement

If you want to see more evidence that Americans are in denial about....pretty much everything...check out this next article.

According to the research, fewer Americans are saving anything towards retirement BUT we all think we are going to retire someday anyway!!  How??  No one knows!!  They just believe that SOMEONE ELSE will have to pay for them to retire!

This may explain the appeal of Socialist Bernie Sanders....who promises more free stuff to folks regardless of whether or not they work for it.

The retirement confidence of Americans has come a long way since the recession. The percentage of workers either very or somewhat confident that they will be able to afford a comfortable retirement now stands at 63 percent, up from 51 percent three years ago and 49 percent in 2011. 

But it isn't because of a surge in the number of people who are saving, according to the 26th annual Retirement Confidence Survey released today by the nonprofit Employee Benefit Research Institute (EBRI). 

The percentage of workers saying they or their spouse saved for retirement is 69 percent in 2016, down from 75 percent in 2009. That number has bounced around a lot, between 57 percent in 1994 to as high as 78 percent in 2000. Whatever the reason for the significant decline this year, it's bad news for our retirement prospects—as is the fact that fewer than half of workers (48 percent) have even tried to figure out how much money they'll need to live on in retirement.

"We've seen a decent amount of awareness around retirement issues, but the issue is whether that awareness translates into different behavior," said Luke Vandermillen, vice president of Retirement and Income Solutions with Principal Financial Group, a retirement services provider and one of the longtime underwriters of the survey. 

One likely force behind some of the rise in overall confidence: the housing market. A recent Federal Reserve report showed that since the market hit a low in early 2009, the value of homeowners’ equity has more than doubled.

In a charming testament to human nature, while not enough people are saving for retirement, they're definitely thinking about what they'll do when they retire. Sixty-seven percent of workers said they had thought about how to occupy their time. Just 36 percent said they had talked with a financial adviser about retirement planning.

Here;  http://www.bloomberg.com/news/articles/2016-03-22/fewer-of-us-save-more-are-confident-of-retirement-are-we-crazy

Many financial experts are amazed that the global financial system is still standing!

With ignorance, denial, massive debts and printed paper money washing over the world....things will snap....exactly when God allows in His perfect timing.

Until then, let's enjoy every day we have where there is food in the fridge, gas at the stations and warm beds we all crawled into last night.

It would seem that only God's grace is holding this whole facade in place.