When you retire

Written by Don Creech

Posted on 10/2/2009

This week’s poll results examine what respondents are thinking about their retirement. The poll was not scientific and was driven by radio listeners of the syndicated Don Creech Radio Show and subscribers to its “Week in Review” email. Listen or subscribe at www.DonCreech.com.

When you retire do you think you will have enough money to live comfortably?

Respondents were equally divided on this question. The 50% that answered no will have more difficulty ahead as they face longer working careers or reductions in their retirement lifestyle.

Do you expect to rely on a 401(k), IRA, Keogh or other retirement savings account as a major source of income?

These responses surprised me. Only 41% expect to rely on a retirement savings plan as a major source of retirement income. This may be due to the reduction in value caused by this past year’s market losses or the absence of a plan. I expected a higher reliance due to the emphasis on marketing company retirement plans over the past twenty years.