CFP Board Research Confirms Most Americans Are Unprepared for Retirement

May 08, 2019 ThinkAdvisor

Notwithstanding a strong U.S. economy, only one in four Americans say they feel financially prepared for retirement, according to new research released Wednesday.

Certified Financial Planner Board of Standards reported that 79% of participants in a survey said they were not reassured that they had the best retirement savings strategies available to them. CFP Board said this may have to do with consumers not knowing what options exist.

Three in 10 respondents said they did not know whether their current employer offered a retirement savings plan. A quarter of respondents complained that saving for retirement was too complicated.