In a recent 401k survey
conducted by the New York Life Investment Management LLC
(NYLIM), many 401k participants agreed that they are making
the correct investment decisions when it comes to investing
their retirement savings, but still worry that they will
not have enough money to survive on upon retirement.
The survey had a sample
population of 8,958 401k participants and 60% of them
acknowledge that they are making the right investment
decisions. However, only 40% out of all 401k participants
are certain that they will not run out of money upon retirement.
Furthermore, more than 50% of the participants said they
would take on higher investment risks if that meant higher
returns on their investment (ROI).
Don Salama, senior managing
director of NYLIM Retirement Plan Services quotes, "This
research shows us several things - first, that by emphasizing
a retirement account balance instead of the amount necessary
to retire in comfort, we have all been putting the emphasis
on the wrong idea. Many of these participants monitor
their investments carefully, are prepared to take some
risk and feel they're making good decisions, but are still
worried they won't have enough for the long haul."
Here is some more interesting
data retrieved from this survey:
