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The 2009 Retirement Confidence Survey: Economy Drives Confidence to Record Lows; Many Looking to Work Longer

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The 2009 Retirement Confidence Survey (RCS): Economy Drives Confidence to Record Lows; Many Looking to Work Longer, April 2009, Employee Benefit Research Institute, Issue Brief #328

  • “Faced with concerns about the economy and the cost of living, as well as worries about the declining value of savings and the increase in health care expenses, American workers are reporting the lowest level of retirement confidence recorded since the RCS first began asking this question in 1993. Only 13 percent of workers in the 2009 RCS say they are very confident they will have enough money to live comfortably throughout their retirement years (down from 27 percent in 2007 and 18 percent in 2008). At the other extreme, 22 percent are now not at all confident they will have enough money to live comfortably (more than double the 10 percent level in 2007 and up from 16 percent in 2008). Forty-one percent report they are somewhat confident, while 22 percent are not too confident they will have enough money…”
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