Retirement savings are on the rise, according to some financial institutions. The recent economic downturn had taken its toll on some people’s retirement plans, but that could soon be changing. So how many current workers have already started planning for retirement? And have the numbers changed at all over the past couple of years?
In Ask Your Target Market’s latest survey, 37% of respondents said that they would definitely like to fully retire from work someday. 15% said they would probably like to retire fully. 8% said they probably would not. And just 3% would definitely not like to retire fully from work. 15% said they are already retired. And the remaining 23% said they don’t work, or at least don’t have a traditional job.
But wanting to retire doesn’t always mean getting to retire. 37% of those who want to fully retire from work said they definitely plan to do so someday. 34% said they probably will retire fully at some point. 26% said they probably won’t ever fully retire, though they would like to. And just 3% definitely don’t expect to be able to retire fully from work. Those numbers have already started improving a bit in just the past year. In a September 2013 survey, 34% of respondents said they definitely planned to retire fully at some point, and 6% said they definitely did not expect to ever retire fully.
There are some people who simply retire partially though. Of those who don’t expect to retire fully, just 6% said they’ll definitely retire at least partially someday. 42% said they will probably retire partially. Another 42% said they probably won’t. And 10% said they definitely won’t.
So just how many have actually started planning out their retirement? 51% of those who plan to retire, at least partially, have started planning for it. And 49% have not started planning for retirement yet. In the September 2013 survey, just 45% of respondents said they had started planning for retirement.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on July 21 via AYTM’s online survey panel.