Five Ways to Stay Confident in Retirement
Will your retirement dreams match your reality?
That's perhaps the most critical question to ask people who are currently retired. Is your retirement what you expected, or is it something else?
For more than 30 years, the Employee Benefit Research Institute (EBRI) has conducted the Retirement Confidence Survey, which gauges the views and attitudes of working-age and retired Americans regarding retirement and their preparations for retirement.1
Part of the survey takes a deep dive into workers' expectations for sources of income in retirement versus retirees' actual income sources.
Here's a couple of highlights of the 2021 survey.
Only 33% of workers expect Social Security to be a significant source of retirement income. In reality, 62% of retirees say it's a major source.
More than 50% of workers believe that workplace retirement savings plans will be a significant source of retirement income. But the 2021 survey found that workplace plans are a major source for only 20% of retirees.
Surprised? We're not. These numbers are consistent year after year. Here's another nugget to consider: 26% of workers plan to work for pay in retirement. In reality, only 7% of retirees do.
What can you do to confidently align your finances with your retirement vision? You can start by reading our whitepaper on 5 Ways to Stay Confident in Retirement. Even more important, remember you have a financial plan with a roadmap for your retirement, and a team at Eagle Wealth who is dedicated to your success.
We’re always here to support you and your retirement dreams, so don’t hesitate to call if you have questions.
Your Eagle Wealth Team
The Week on Wall Street
A fresh wave of positive corporate earnings surprises sent markets to new record highs last week.
The Dow Jones Industrial Average increased 0.40%, while the Standard & Poor’s 500 rose 1.33%. The Nasdaq Composite index picked up 2.71% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, was up 0.68%.1,2,3
The week kicked off with the Dow Jones Industrials and S&P 500 index setting record highs as the financial markets carried over the previous week’s price momentum.4
Stocks continued to climb on a string of forecast-beating earnings results. With about half of the S&P 500 constituent companies having reported earnings, more than 80% of them have beaten Wall Street analysts’ consensus estimates. Based on these results, earnings for all S&P 500 companies are expected to come in approximately 39% above the third quarter of last year. (Forecasts are based on assumptions, and may not materialize.) Stocks overcame disappointing earnings from two mega-cap tech names on Friday to maintain the week’s solid gains.5
While businesses managed to post strong earnings in the third quarter, the first look at economic growth came in below consensus estimates. The Gross Domestic Product (GDP) grew at a 2.0% annualized rate in the third quarter, a slowdown from the two previous quarters, each of which posted annualized growth rates in excess of 6%.6
The spread of the Delta variant and backlogs in the supply chain were two major factors dragging on economic activity.