This July, EBRI.org published its annual, much anticipated Retirement Confidence Survey.  Some astounding findings:

• Only 13% of workers are “very confident” they will have a comfortable retirement.
• Only 27% of workers are “not at all confident about saving enough money for a comfortable retirement.
• 42% of workers determine their “retirement number” by GUESSING!?!

What these numbers prove to me is that our government, the media, the financial services industry and employers have all failed miserably in educating the public about the main challenge—achieving retirement income they cannot outlive.

For those approaching retirement, the essential first step is to start the planning process.  Check out the “lifeboat drill” on page 5 of our report- “The Secret Key:  Lessons of the Masters.”   If you feel there are gaps in your plan that worry you, seek help.