Retirement Planning: Consumers lack confidence in their preparation

Only 28 percent of American workers are confident about their retirement planning preparation, reports a new study from Sun Life Financial Inc.

According to the company’s findings, even fewer workers — only one in four — are confident that they will be able to live the kind of life they want during retirement.

Cathy Weatherford, president and CEO of IRI, expressed concern over the statistics saying, “Unfortunately, Sun Life’s findings released today paint a troubling picture for the millions of American workers planning for retirement.” Regarding the future of retirement planning, she added, “…It is imperative that Americans revisit and revise their retirement savings strategies.”