Majority of retirement savers grappling with challenges to be fully
prepared for retirement
MINNEAPOLIS--(BUSINESS WIRE)--Mar. 5, 2015--
More than half of retirement savers surveyed are not confident or are
unsure whether they will have enough money to live comfortably
throughout retirement according to a survey by U.S. Bancorp Investments.
As part of the recent launch of RealSteps>Retirement®
U.S. Bancorp Investments surveyed 3,406 people online regarding their
Some of the survey’s additional findings include:
70% of respondents with less than $100,000 in investable assets
reported that they were not confident or unsure they
would have enough money to live comfortably through retirement.
Only 6% of respondents with less than $100,000 in investable assets
reported being confident they will have enough money to live
comfortably throughout retirement.
33% of respondents with less than $100,000 in investable assets and
17% of respondents with more than $100,000 in investable assets said
that they were unsure they would have enough money to live
comfortably throughout retirement.
Among respondents with more than $100,000, 48% reported moderate
confidence that they would have enough money to live comfortably
throughout retirement, while 24% of respondents with less than
$100,000 in investable assets expressed moderate confidence.
“Because we can’t predict what lies ahead, holistic retirement planning
allows people to prepare for the unknown and navigate through challenges
to retiring comfortably with more confidence,” said Bill Benjamin,
president and CEO of U.S. Bancorp Investments. “Educational tools
combined with financial advice can make a significant difference in your
retirement plan and provide you with clear answers about the steps you
need to take to be able to retire comfortably.”
There are immediate steps that those saving for retirement can take:
Get started—even if it means putting aside $25 each week. It’s
important to remember that it’s never too early or too late to plan
Don’t leave money on the table—Make sure that you are
participating in your company’s retirement plan, particularly if your
employer matches your contribution. According to a January 2014 survey
by the Government Accountability Office, only 5% of savings-plan
participants contribute the maximum amount allowed annually (currently
Seek advice—An advisor can help you make informed decisions on
how to achieve your goals and provide clarity at all stages of
U.S. Bank and U.S. Bancorp Investments recently launched RealSteps>Retirement®,
a comprehensive planning process that provides tools, resources and
expertise to help individuals, families and business owners move closer
to their retirement goals. To learn more about RealSteps>Retirement,
please visit www.usbank.com/retirement
or call 800-871-6250.
U.S. Bancorp Investments’ retirement preparedness
survey is based on a nationally representative sample of 3,406
individuals, which were primarily U.S. Bank customers. The anonymous
survey was conducted online between October 4 and December 17, 2014.
About U.S. Bank Wealth Management
U.S. Bank Wealth
Management offers comprehensive wealth management services, including
wealth planning, investment management, trust and estate services, and
private banking, for individuals, families, and their foundations
through three distinct service models. Ascent Private Capital Management
(ascent.usbank.com) serves clients
with $50 million or more in net worth; The Private Client Reserve (reserve.usbank.com)
serves clients with $3 million or more in net worth; and The Private
Client Group serves affluent clients with more than $100,000 of
About U.S. Bancorp
Minneapolis-based U.S. Bancorp (NYSE:
USB), with $403 billion in assets as of December 31, 2014, is the parent
company of U.S. Bank National Association, the fifth-largest commercial
bank in the United States. The company operates 3,176 banking offices in
25 states and 5,022 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
About U.S. Bancorp Investments
For U.S. Bancorp Investments:
U.S. Bancorp Investments, an affiliate of U.S. Bank, provides financial
planning, investment management, full-service brokerage, self-directed
brokerage, and insurance products and services to individual investors.
Financial Advisors serve clients with more than $100,000 in investable
assets at more than 3,000 U.S. Bank branches in 25 states. For more
information, visit usbank.com.
For U.S. Bank: Deposit products offered by U.S. Bank National
Association. Member FDIC. Credit products offered by U.S. Bank are
subject to normal credit approval. U.S. Bank is not responsible for and
does not guarantee the products services or performance of U.S. Bancorp
Deposit products offered by U.S. Bank National Association. Member FDIC.
Credit products offered by U.S. Bank National Association and subject to
normal credit approval.
Investment products are:
Not a Deposit
Not FDIC Insured
Not Guaranteed by the Bank
May Lose Value
Not Insured by Any Federal Government Agency
U.S. Bancorp Investments and U.S. Bank are not affiliated with the
companies or organizations mentioned above. U.S. Bancorp and its
representatives do not provide tax or legal advice. Each individual's
tax and financial situation is unique. Individuals should consult their
tax and/or legal advisor for advice and information concerning their
U.S. Bancorp is not affiliated with the companies or organizations
mentioned above. U.S. Bank is not responsible for and does not guarantee
the products, services or performance of third-parties.
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Source: U.S. Bancorp
Senior Manager, Public
Senior Manager, Public Relations