Study: Most Not Ready To Retire

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A study of nearly 1,000 randomly-selected Americans has found that many are expressing serious reservations about their finances after retirement-providing they can even retire in the first place.

The Maritz Poll conducted by Maritz Research here found that 31% of Americans are uncertain whether they will meet their personal savings goal for retirement, and 27% are uncertain that they will be able to retire at the age they planned. The survey found that 26% of respondents said they have saved nothing for retirement; for those with annual incomes of less than $35,000, that figure rises to 45%. More specifically, the survey found 12% said they have saved less than $5,000; 10% $5,000-$9,999; 12% $10,000-$24,999; 11% $25,000-$49,999; 10% $50,000-$99,999, and 18% have saved $100,000 or more.

When asked what is the preferred retirement vehicle, 35% cited the 401(k). Nineteen percent said stocks/bonds/mutual funds, 16% said an IRA, 14% a company pension plan, and 11% a CD/NOW account. Three percent of respondents said they believe it's best to keep retirement money under the mattress.

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