Joint Poll by MoneyRates.com and GetRichSlowly.org Reveals Anxiety over Retirement Savings
November 19, 2009
Foster City, CA (PRWEB) October 19, 2009 -- A recent poll conducted by personal finance sites MoneyRates.com and GetRichSlowly.org revealed deep concern among workers about their financial readiness to retire. More than 52 percent of respondents said they did not feel on track with their retirement savings.
These results come as National Save for Retirement Week kicks off on October 18. Congress established National Save for Retirement Week in order to improve public financial literacy and awareness of retirement tools--including tax-advantaged vehicles such as IRAs and 401(k)s. In passing the resolution to designate this week, Congress noted that many American workers continue to save for retirement inadequately or not at all.
"Saving for retirement requires a leap of faith. You're sacrificing something today for more tomorrow," said GetRichSlowly.org founder J.D. Roth. "But making this choice is one of the most important things you can do to guarantee your future financial security."
The MoneyRates/GetRichSlowly poll result is consistent with research evidence of Americans' growing concern over retirement savings. One study cited by Congress found that economic uncertainty, rising health care costs and lack of clear information about the level of savings needed for retirement has led to record lows in confidence levels about retirement readiness.
"National Save for Retirement Week deserves all the attention it can get," said MoneyRates columnist Richard Barrington. "Based on the data, with so many Americans behind on their retirement savings, it sounds like we need a National Save for Retirement Year."
Savers looking for information to help them improve their financial strategies for retirement can find information on consumer education sites such as MoneyRates.com and GetRichSlowly.org. While GetRichSlowly.org offers practical tips and articles--including comprehensive guides to retirement investment options such as Roth IRAs and articles about saving for retirement vs. paying off debt--to guide one's savings strategy, MoneyRates.com helps consumers find the best products on offer, with side-by-side comparisons of yields for deposit accounts as well as expert columns and guides.
MoneyRates.com has been a leading source of information on bank rates, personal finance, savings accounts and investing since 1999. The site provides the highest rates on certificates of deposits, money market accounts and high-yield savings accounts.
GetRichSlowly.org--recently named most inspiring money blog by Money magazine--is devoted to sensible personal finance. Since 2006, J.D. Roth has been sharing with thousands of daily readers what he has learned about debt elimination, saving money and practical investing.