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By the Numbers

April 3, 2017

Do You Have What It Takes to Retire?

While the vast majority of middle-aged Americans say saving for retirement is important to them and their families, many are concerned about their future financial needs, a new survey shows.

15% — Percentage of Americans 45 to 65 who said they were very confident they would have enough money to last through retirement, according to a recent Ipsos/USA Today poll.

Look at your retirement account balance. Are you sure it’s on track?

If you didn’t immediately say yes, you’re not alone. A new survey shows that 85% of American workers ages 45 to 65 do not feel “very confident” they’ll have enough money to last through retirement, while as many as 77% said they need to save more to afford the retirement they want.

“This generation faces a challenging retirement landscape, and they know it,” says Chris Jackson, vice president of Public Affairs at Ipsos.

Even so, the Ipsos/USA Today survey provided some encouraging news: 92% of middle-aged Americans responded that saving for retirement is important to them and their families, and 65% said they are likely, or somewhat likely, to put at least $100 toward retirement over the next six months.

So what can the 85% of investors who aren’t feeling confident about their retirement savings do to help themselves? According to Diane Oakley, the executive director of the National Institute on Retirement Security, there are a number of things to consider.

“Develop a deep level of understanding of your specific retirement goals and create an action plan to get you there. Consider how much you have saved today, when you want to retire and how much your nest egg needs to grow to reach your goal,” she advises. “With those specifics, you can determine if you need to cut spending now and ramp up savings.”

Contribution Limit Reminder

Employees age 50 and above can contribute up to $24,000 to a 401(k) in 2017, and those under 50 can contribute up to $18,000.

The contribution limit for an IRA, for those age 50 and above, is $6,500, and $5,500 for those under 50. You can still make contributions to your IRA for the 2016 tax year up until April 18, 2017.


Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.