You may be focusing your retirement-planning efforts on the wrong people.
While traditionally it’s been younger workers who worried the least about retirement, that attitude may be changing.
A recent Towers Watson “Retirement Attitudes Survey” shows:
- More than half (55%) of workers under age 40 say that retirement security has become a more important issue for them over the past three years
- 45% are concerned their employers will reduce their retirement benefits package within the next two years, and
- 44% say they’d sacrifice more of their income, for a more generous retirement package.
Bottom line: Companies may have worried employees on their hands and not realize it.
Better communication about the state of retirement plans and more education on growing a 401(k) nest egg can help.