26%
Paying off unsecured debt
Now in its tenth year, Franklin Templeton’s RISE Survey explores attitudes and concerns about preparing for and living in retirement. Learn more about what people are doing to build preparedness and confidence, while balancing various financial priorities.
Kickstarting Good Financial Habits
Meeting Americans where they are is critical to a strong start
Engagement around financial well-being is needed early on
Drivers of stress for younger American adults1:
#1 Ability to handle unforeseen expenses
#2 The potential to experience extreme financial hardship
#3 Day to day expenses
37%
of total respondents have nothing saved for retirement
Wide range of priorities across all age groups demands more personalized strategies
39%
Saving for retirement
40%
Having sufficient emergency savings to cover unexpected expenses
Explore current financial priorities by generation
Approaching Retirement2
Focus on retirement income strategies important in the decade before retirement*
70% confident they understand how much they will need for expenses in retirement
but...
46% concerned about managing retirement income to meet expenses
but...
63% do not have a strategy to generate income for 30 years or more
Target retirement dates are personal
Nearly half of working Americans in their 60s are still working because they enjoy it
57%
of pre-retirees say they would make work related adjustments if they didn’t have enough saved, but ¼ of retirees retired due to circumstances beyond their control
21%
of pre-retirees say they would never plan for retirement with 63% thinking they will never be able to afford it
Living in Retirement
Realities and sentiment during Americans’ non-working years.
Hindsight sheds light on how expensive retirement is
48% “I should have saved more”
66% “Expenses remained the same or increased”
People require a strategy for securing
income for life
41%
of current retirees are trying not to dip into savings, primarily driven by uncertainty
45%
of Americans willing to pay for insurance that guarantees a stream of income for as long as they live
95%
of those participating in an employer sponsored retirement plan are looking for investment options that help turn savings into a stream of income in retirement
Build your retirement preparedness one step at a time.
1. Take care of your financial well-being early.
Leverage resources that can help with things like budgeting, building an emergency savings nest egg and managing debt.
2. Make sure your strategy is personalized.
Ensure your financial strategies are holistic and reflect your unique needs and circumstances.
3. Think about how you will recreate a paycheck.
Learn what retirement-related expenses might look like, identify income replacement gaps and optimize your Social Security claiming strategy.