I just found a copy of the 2016 Retirement Preparedness Study from Prudential Investments. The readers of this blog post may have an interest in a quick summary of the results.
Nearly two-thirds (64%) are overwhelmed by the number of financial product choices.
Over half of investors 53%) say they do not have time to be actively involved in the day-to-day management of their investments.
About half of investors (52%) worry quite often about their investment being exposed to the ups and downs of the stock market.
Responding to the survey question, “Which course of action would you be most likely to take in your investment/retirement portfolio if the stock market dropped 20?” a full 36% of individual investors surveyed answered, “Do nothing.”
The survey clearly reinforces the need for individual company 401(k) retirement plan investment advice.
Ric Lager
Lager & Company, Inc.
