According to the 2004 Retirement Confidence Survey (RCS), 24% of American workers surveyed are Very Confident about having enough money to live comfortably in retirement, 44% are Somewhat Confident, 18% are Not Too Confident, and 13% are Not At All Confident.

About 68% of the workers reported have saved money for retirement, and 58% are currently saving for retirement. More than half of all workers report less than $50,000 in savings and investments (excluding their home), with 29% of those in age 55+ having less than $25,000. However, 13% of people in the same age group mentioned (55+) have saved over $250,000.

Those who are currently not saving for retirement but feel confident that they will have a comfortable retirement cite the following reasons for their confidence:
- they will get money from an employer (34%)
- Social Security will be enough (9%)
- have other money/property (7%)
- will save later (11%)
- trust in God/faith (7%)
- inheritance (3%)
- other reasons (17%)

You can download the full 2004 RCS report here (To download this PDF file, RIGHT-CLICK on the link and then choose 'Save Target As' to save into your computer.)

How well do you measure up? Are you financially on track for a comfortable retirement? Or do you feel uncomfortable whenver this subject is brought up? Well, Lewis Schiff has written an article based on this topic and invites you to take The Armchair Millionaire's Quiz: Are You Financially on Track? He also offers helpful tips on how to make progress with your savings goals. Read this very important article now: How Do You Measure Up Financially? and get a firmer handle on your financial future.