What is Retirement Readiness Perception?
Retirement readiness polls capture how prepared people feel for retirement, comparing self-assessed confidence against actual savings benchmarks. The gap between perceived readiness and objective preparedness is one of the most consistent findings in household finance research, making these polls a powerful awareness tool.
Why This Matters
Savings gap awareness drives action
According to the Employee Benefit Research Institute, nearly 40% of workers who feel "somewhat confident" about retirement have saved less than $50,000 total. Polls that surface this disconnect create the urgency needed to close the gap before compounding windows shrink.
Behavioral nudges outperform information alone
Research from the National Bureau of Economic Research shows that showing people where they fall relative to peers increases 401(k) contribution rates by 2 to 4 percentage points within 90 days. Polls create that peer-comparison context naturally.
Age-specific planning urgency varies dramatically
A 30-year-old with low readiness has decades of compounding ahead. A 55-year-old in the same position faces a fundamentally different set of options. Polls segmented by age group help surface the right level of urgency for each respondent.
Common Mistakes
❌ Confusing retirement age with retirement readiness
Many respondents anchor on "I plan to retire at 65" without evaluating whether their savings, Social Security, and healthcare coverage will sustain 25+ years of expenses. Target date and target balance are separate questions.
❌ Ignoring healthcare costs in retirement planning
According to Fidelity, an average 65-year-old couple retiring in 2024 needs approximately $315,000 for healthcare expenses alone. Poll respondents who feel "ready" often have not accounted for this single line item.
❌ Overestimating Social Security coverage
The Social Security Administration reports that benefits replace roughly 40% of pre-retirement income for average earners. Many poll respondents assume the figure is 60% or higher, creating a false sense of security.
Industry Benchmarks
| Category | Good | Average | Poor |
|---|---|---|---|
| Retirement confidence (very/somewhat confident) | 70%+ of respondents | 50-69% | Below 50% |
| Savings adequacy rate (on track for 80% income replacement) | Above 40% of respondents | 25-40% | Below 25% |
| Median retirement savings, age 55-64 | Above $250,000 | $100,000-$250,000 | Below $50,000 |
Source: Employee Benefit Research Institute (EBRI) Retirement Confidence Survey
Benchmark data sourced from Employee Benefit Research Institute (EBRI) Retirement Confidence Survey.