More than one-third of retirement plan participants have increased the amount they are putting towards retirement savings, according to a recent survey. Furthermore, one-fifth of participants are opting for more aggressive investments.
One reason that may be affecting this increase in saving for retirement, is that plan participants are more concerned about how the economic crisis will affect their future finances.
When asked about concerns for their retirement income needs:
- 43% want to have guaranteed monthly income for the rest of their lives
- 35% want to get the best return on their investments
- 19% want to ensure that their retirement income keeps up with inflation
The survey also found that:
- 3 out of 5 participants are saving 6% or more for their retirement
- 70% reviewed their retirement outlook in the past year
- 49% want help to establish a retirement income goal
This survey was conducted by Diversified Investment Advisors, Inc., a national investment advisory firm. Over 2,000 retirement plan participants responded.
Diversified Investment Advisors