Faculty Publications

Title

Americans Overconfident and Unprepared for Retirement

Document Type

Article

Publication Date

2-2015

Abstract

A retirement crisis has been brewing in the U.S. for years. Today, Americans are underfunded for retirement by anywhere from $5 trillion to $14 trillion. While this huge retirement savings shortfall is concerning, new research – the 2014 Retirement Income Certified Professional (RICP) Retirement Income Literacy Survey – from the New York Life Center for Retirement Income highlights an even more troubling point: Americans know very little about retirement planning.