Annual Retirement Survey
What retirees have to tell us about the new world of retirement.
Retirement is changing. It is too easy, however, to focus on the uncertainty about where we are today in the new world of retirement and ignore how far we have come in overcoming the challenges.
That's one of the reasons BlackRock extended this year's Retirement Survey to include recent retirees for the first time. We asked retirees about what helped them prepare for retirement and what might have helped them even more. Our four findings are presented here.
While today's participants have less access to traditional income sources, they have the power to build retirement confidence by engaging with their DC plan.
Being active about their retirement and using all the tools at their disposal is one of the keys for participants seeking to build a secure retirement.
Perhaps the most intriguing—and inspiring—conclusion to be drawn from this year's Survey is the extent to which creating retirement confidence is in the hands of participants themselves. The question is, are they taking full advantage of all the tools available to them?
Confident retirees seem to have done so and offer behaviors to emulate. They appear to have saved more, planned more, and taken a more active role in their planning than their less confident colleagues. Taken together, BlackRock has identified "The Seven Essential Habits of Highly Confident Retirees" as a model for how participants can better engage in their DC plan.
Will today's participants follow suit? The Survey suggests they will: 92% of today's participants agree that they can learn from retirees.
For Plan Sponsors and DC Advisors
Retirement Survey Results
Thought leaders from the BlackRock DC team discuss findings from this year's survey.
Thoughts on the Survey
Head of BlackRock's US and Canada DC Group
"Though many of today's retirees are successfully meeting the financial challenges of life post-employment, the reality is that most are enjoying the financial benefit of robust, secure income streams—in particular, defined benefit pensions—that future retirees simply won't have."
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Financial professionals should check with their firm compliance before distributing any content on this site. This content is provided for your reference only unless otherwise documented.