Retirement Survey Shows Boomers Focused on Preserving Savings

Charles Schwab released findings from its latest quarterly retirement pulse survey, outlining how consumers plan for and approach retirement in the current economic environment. According to the results, “preserving savings” (86%) ranked as high in importance as “budgeting” among adults age 50 or older. Additional priorities include “managing debt” (77%), “saving for the future” (73%), “owning a home” (71%), “building an emergency fund” (66%) and “helping children financially” (61%).

Investors want to be fit financially, but they also want to help others in the community and family. Our priority is to help our clients achieve these important goals and maintain financial well-being as they plan for and enter retirement.

Schwab also found that the majority of boomers see paying off their mortgage as an important goal and milestone in reaching retirement. More than six in 10 (63%) investors age 50 and older have either already paid off their mortgage or are planning to do so before they retire.

According to the results, 84 % of adults age 50 and older have not yet retired and 20% of this age group have no plans to retire.  There it is again…you can’t predict the future, but you can Plan for it. How can you retire without planning for it?

What are your priorities / concerns? Want to know how you're plan is coming? Or want to "start" planning? Try our FREE FINANCIAL ROADMAP & find out how you're doing.