Will your retirement dreams match your reality?

Will your retirement dreams match your reality?

October 05, 2021
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Will your retirement dreams match your reality?

That's perhaps the most critical question to ask people who are currently retired. Was your retirement what you expected, or was it something else?

For more than 30 years, the Employee Benefit Research Institute (EBRI) has conducted the Retirement Confidence Survey, which gauges the views and attitudes of working-age and retired Americans regarding retirement and their preparations for retirement.1

Part of the survey takes a deep dive into workers' expectations for sources of income in retirement versus retirees' actual income sources.

Here's a couple of highlights of the 2021 survey.

Only 33% of workers expect Social Security to be a significant source of retirement income. In reality, 62% of retirees say it's a major source.

Further, more than 50% of workers believe that workplace retirement savings plans will be a significant source of retirement income. But the 2021 survey found that workplace plans are a major source for only 20% of retirees.

Surprised? We're not. These numbers are consistent year after year. Here's another nugget to consider: 26% of workers plan to work for pay in retirement. In reality, only 7% of retirees do.

For most, retirement is the "next chapter" in life. It's critical that your finances support your retirement vision, so there are no surprises when it's your turn.

What does your dream for retirement look like? We welcome the opportunity to work with you to make your dream a reality.

Click on the link below to schedule a consultation.

https://calendly.com/gowdyfinancialgroup/30-minute-consultation



1. Employee Benefit Research Institute, 2021 Retirement Confidence Survey

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite and Gowdy Financial Group, LLC., are not directly affiliated with any broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Gowdy Financial Group, LLC., is a Fee-Only, Financial Advisory / Financial Planning Coach firm dedicated to helping women, from all backgrounds and income levels, get out of debt, save toward your goals and enjoy the freedom that comes with being in control of your money. We don't sell products; we provide solutions. "Your Goals. Our Solutions." Serving Clients Nationwide. 

We will at all times put our client’s interest above our own. We will maintain proficiency in our work through continuing education. When fee-based services are involved, We will charge a fair and reasonable fee based on the amount of time and skill required. We will abide by both the spirit and the letter of the laws and regulations applicable to financial planning services. We will give our clients the same service we would give ourselves in the same circumstances.