Many Higher Education Workers Say They May Never Retire

More than half (55%) of all higher education employees surveyed also say they consider themselves to be "beginners" at investing -- including seven in 10 Gen Y (71%), half (50%) of Gen X and half (51%) of Baby Boomers. In addition, more than six in 10 (63%) are concerned they will not be able to live comfortably in retirement. When it comes to tools and resources used to learn about retirement savings -- which can help alleviate such concerns -- the survey shows Baby Boomers rely mostly on guidance from financial professionals (42%) and employer-provided education materials (37%). In contrast, Gen X relies primarily on educational materials from employers (37%) and online web sites (36%) and Gen Y relies more on friends and family (54%) and online planning tools (41%). When asked about their plans for retirement, 46 percent of respondents said they will delay retirement or never retire at all. Read more at:
http://www.marketwatch.com/story/fidelity-survey-finds-younger-higher-education-participants-are-as-conservative-with-their-retirement-savings-as-their-older-counterparts-2011-11-28