Are you ready for retirement? While the idea might have its appeal, especially with the winter weather making for long commutes this year, an awful lot of workers are not on a track to be able to retire. That’s according to a survey from the Employee Benefit Research Institute (EBRI), conducted annually. They found that only 18% are “very confident” that they’ll have enough for retirement and a further 37% are “somewhat confident”. That’s up from the 2013 survey, in which only 13% was “very confident”.
The implications go beyond any one family’s ability to retire, however. The decline in workforce participation has been largely due to retirement since the start of 2011, and retirement opens jobs for young people. The wave of retirement that should accelerate after 2017 is one of the main reasons Barataria has hope for the 2020s. But is retirement nothing more than a dream for many workers today?