Self-Directed Investors Show Remarkable Confidence in Reaching Retirement Goals
Investors more likely to recommend online tools than talking with a professional
- 89 percent age 55-64 believe retirement is real and they will one day not need to work and be able to live comfortably.
- 81 percent of the total population believes they will retire between the age of 55 and 74 — only 5 percent believe they will never retire.
- 63 percent age 55-64 believe they won't need to work at all in retirement.
"At first look this level of confidence may seem surprising," said
Several data points also suggest that a successful strategy for these investors is simple yet disciplined: start early, use an online tool, make automatic contributions and don't tap the well early.
- 47 percent age 65+ wish they started to save earlier for retirement.
- 81 percent have never taken out money from an IRA or 401(k) before the age of 59.5.
- 55 percent of the total population recommends online tools that help determine monthly contributions, followed by talking with a professional (43 percent), attending in-person seminars (25 percent) and watching online tutorials (23 percent).
- 63 percent of the total population believes automated contributions are better than periodically deciding how much you want to invest (37 percent).
"Discipline in investing is the best advice," continued Haas. "What is striking is that while professional advice continues to be relevant, online tools are leading the pack on what's most helpful. This is a critical trend.
"While many investors will always value professional advice, investors are less willing to cede complete control to professionals and instead want more control and insight into their investments — even if they want their plan managed by someone else. And today investors have the tools and technology to do just that. When it comes to saving for retirement we are in a different world than we were a decade ago."
E*TRADE is a partner in helping investors balance today's needs with tomorrow's goals, through access to curated content and insights with actionable tools — complemented by unbiased guidance — online and from seasoned financial consultants. To learn more about retirement planning, visit etrade.com/retirement.
E*TRADE will host its third annual National Retirement Education Day on
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About the Survey
This wave of survey was conducted from
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