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Retirement Confidence Survey

Student's Name

Department, Institutional Affiliation

Course Code: Course Title

Professor's Name

Date
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Retirement Confidence Survey

Question 1

Wealth and health are the two most crucial expectations when it comes to a successful

retirement. The ability to adjust to retirement is positively correlated with one's conviction that

one will have an adequate income after retirement. There is a lot of anxiety that a large number

of retiring baby boomers will not have enough money when they stop working (EBRI, n.d.).

More and more people have to save more money for retirement as the number of defined benefit

pension plans decreases. Those who are more prepared for their retirement tend to have a more

favourable outlook. If you do not have enough savings for retirement, you may still be

optimistic. There is a strong case for investigating what elements contribute to a sense of security

in old age, such as retirement preparation.

Question 2

Individual attributes such as race, gender, marital status, education, financial dependents, health

status, family income, and employer contribution to retirement plans have been identified in the

past to explain retirement confidence. Notably, retirement confidence is not influenced by

gender, marital status, education, dependent children, or company contributions to a retirement

plan (EBRI, n.d.).

Question 3

Retirees can rely on Social Security as a significant source of income throughout their golden

years. However, in the future, Social Security will offer less retirement income than it does

today. As a result, future retirees will need to find new sources of income as they get older. A

significant deal of focus has been placed on Social Security and Medicare due to concerns about

the trust funds' ability to cover benefits in the near future. By 2042, according to the Social
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Security Trustees Report of 2004, the total Social Security fund reserves will be exhausted, with

even more significant concerns regarding the sustainability of Medicare (EBRI, n.d.). Financial

reform of Medicare and Social Security is critical, according to the Social Security

Administration (SSA).
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References

EBRI. (n.d.). Retirement confidence survey. Employee Benefit Research

Institute. https://www.ebri.org/retirement/retirement-confidence-survey