In 2023, the Retirement Confidence Survey conducted by the Employee Benefit Research Institute (EBRI) and Greenwald Research recorded its biggest decline since the global financial crisis of 2008. In EBRI’s 2024 survey, retiree confidence still hadn’t fully recovered from that significant drop. But there was also some good news. Craig Copeland, director of wealth benefits research for EBRI, explains.
What’s Behind the Numbers
In this year’s survey, 74 percent of retirees said they are very or somewhat confident they will have enough money to live comfortably throughout retirement. That’s not a significant increase from last year, and it hasn’t returned to where it was before inflation ratcheted up in 2022. Retirees are still concerned about inflation, the increasing cost of living and potential government changes in the U.S. retirement system. Expenses for travel, entertainment, and leisure were significantly higher this year.
Is There a Difference Between Men and Women?
Nearly 80 percent of men are confident in having enough money versus 70 percent of women. Married women are most confident. Divorced women, particularly those with children, are least confident because they are more likely to have spent time out of the labor force. Women who have never married are in between.
