|
Everything retirement!
That's what this page is all about
Resources that are meant to inspire and inform
"Young foresee retirement self reliance"
Most U.S. young people believe their retirements will depend
on their own individual planning and investments
In what it calls a landmark study of four generations, Charles Schwab & Co. Inc. of San Francisco released a survey of 4,000 people that indicates a big majority of Generation Y (people between the ages of 21-31) believes their retirement funding will come mostly from personal savings and investments, signaling a coming era of financial self reliance.
Only 32% from the oldest generation (63-83) hold the same view, reflecting a belief among young people that corporate and union pensions, Social Security and other forms of guaranteed fixed income are things of the past and that they're largely on their own to secure their old age survival.
Meanwhile, the survey also found that on average people believe old age now doesn't begin until 75 or older, and with the average age of retirement now in the early 60's the survey's authors say Americans are reasonably planning for upwards of 30 years in this stage of life. Most people are beginning to think of this as whole new third act.
Copyright 2008 by United Press International, Inc.
|
