In a survey, Employee Benefit Research Institute (EBRI) has found that less than 60% of workers save toward retirement, and 57% of those surveyed have less than $25,000 in total savings and investments, while 28% have less than $1,000.
Only 50% of investors understand how much they will need in retirement, according to BlackRock’s Investor Pulse survey. [BlackRock – Retirement in 2014: It’s Your Number that Counts]
“You need to take control of your finances — people have to look more closely at how much they actually need in retirement,” Fink said in a Financial News article.
Financial advisors interested in attending the annual virtual summit on January 15 can register at ETF Virtual Summit registration.