Military Households and Retirement: Findings From the 2024 Retirement Confidence Survey

The Retirement Confidence Survey (RCS) was conducted for its 34^th year in 2024 to measure attitudes toward, preparations for, and understanding of the various issues surrounding retirement by American workers and retirees. The RCS found that, in 2024, Americans’ confidence in having enough money to live comfortably throughout retirement has not fully recovered from its 2023 drop. At the same time, the survey also found that many workers and retirees haven’t prepared or didn’t prepare for retirement.

In this Issue Brief, the retirement prospects, knowledge, preparations for retirement, and experiences in retirement are examined for those who are in military households vs. those who are not in those households. Military households are defined as those with individuals who have ever served in the U.S. Armed Forces or are currently active in the National Guard or Reserve, as well as those who are married or partnered to or widowed by such individuals. A description of military households is presented before comparing military vs. non-military households on many dimensions of financial attitudes and activities and retirement preparations.

Key findings are:

Military households are more likely to have widowed and married respondents than non-military households. They are also more likely to have male and White respondents. The share of military-household respondents who are widowed is 14 percent and married respondents make up 66 percent, compared with 4 percent and 53 percent, respectively, for non-military-household respondents. Fifty-five percent of military-household respondents are male and 72 percent are White vs. 48 percent and 64 percent, respectively, for non-military households.
Military households are more likely to have the highest levels of financial assets and less likely to consider debt to be a problem than non-military households. Forty-nine percent of military households have $250,000 or more in financial assets, compared with 40 percent of the non-military households having this amount. Fifty-five percent of military households consider debt to not be a problem, while 46 percent of non-military households consider debt to not be a problem.
Military households in the higher two income groups ($35,000–$74,999 and $75,000 or more) are more likely to be confident in their retirement prospects than non-military households, but no difference in this confidence is observed among those in the lowest income group (less than $35,000). Specifically, 89 percent of military households with incomes of $75,000 or more are confident that they will have enough money to live comfortably throughout their retirement compared with 81 percent of their non-military counterparts. For the middle-income group, 72 percent of military households vs. 61 percent of non-military households are confident in their retirement prospects.
Approximately 90 percent of respondents in military households disagree with the statement that their military service has prevented them from saving for retirement. Upper-income ($75,000 or more) military-household respondents are more likely to be confident in their ability to choose the right investments for their situation than non-military-household respondents.
If there is a difference in the likelihood of concern over various scenarios that could impact Americans’ retirement finances or retirement in general, military household respondents are less likely to express concern about the scenarios than are non-military household respondents. The scenarios less likely to be of concern to military households include the potentials for rising housing costs, increasing cost of living making it harder for them to save as much money as they want, and having to make substantial cuts to their spending because of inflation.
The top four sources of information are consistent across military and non-military households: family and friends; a personal, professional financial advisor; online resources and research they do on their own; and their employer or information they receive at work. The significant difference between information sources is that military households are more likely than non-military households to say they use non-profit organizations that focus on serving a specific group or community as a source of information, while non-military households are more likely to say that family and friends are a source of information.
Military-household retiree respondents are more likely to say that they retired about when they planned than non-military-household retiree respondents. Among those who retired earlier than planned, the top three reasons cited by both military and non-military-household respondents are that they could afford to retire; there were changes at their company, such as downsizing, closure, or reorganization; and they had a health problem or disability.
Military-household retirees are generally positive about their lifestyle. Specifically, 80 percent of military retirees say their lifestyle is what they expected or better before they retired, and 71 percent say they are having the lifestyle they had envisioned. Non-military retirees have similar feelings about their lifestyle in retirement.

Military households appear to be better prepared for retirement and more confident in their retirement prospects. However, they still have to navigate changes in their careers for the high share who separate before military retirement, which involves knowing what to do with their retirement savings as they switch careers. They report being more knowledgeable about regulations around retirement savings plans, but they are also more likely to have taken a loan or withdrawal from a retirement plan. Thus, while military service can put individuals on a better track for retirement, they still face many of the same issues as those who have not been in the military, such as when to retire, preserving retirement assets, and working in retirement. Furthermore, military households are less likely to say that their financial needs are different from those of non-military households, but the retirement and health care vehicles for those who served in the military are different in many cases from those in the private sector, which warrants specific knowledge of how these benefits interact.

EBRI and Greenwald would like to thank the 2024 RCS sponsors who helped shape this year’s survey: American Funds/Capital Group, Ameriprise (Columbia Threadneedle), Bank of America, Empower, Fidelity Investments, FINRA, Jackson National, J.P. Morgan Chase & Co., Mercer, Mutual of America, Nationwide, NEFE, PGIM, Principal Financial Group, T. Rowe Price, USAA, and Voya.

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VeFi terg anu hre ou s 2 e5 ho (c ldso nn =t. 66)5 F Fiig gu ur re e 2 58 3,, Per Topc en Fotu ag r R e eWh asoon s F eel for T TT h akin o ey p rDo e gp a a rN e Lo o fo tan r K r e n o to ir r w eWi m Wh etnh td , o (r ha t n ao w = v 70 e al G /d 9 o id F tr)o o y m o fo u r a ( o G R r y o et o oid u rrem F sip nen oan us tc eS i)al .. avin .? Ad g vic s Pl e,an by , b M y iliM tar iliy tar Sy tat Su tat s u an s d ..... 41 Do you currently work with a professional financial advisor or representative? Are you enr Ho ollw edc io nn tfh id eT e S o nu twh r av riv e a y to e o r x u Ben t e th na te td f t it o h P e yla S ou n o a c (S g ia BP rl eS e)e ? o cru d rit is ya s gy re se te wi m w th t ilh l c eo fn ot llin ou wi en tg o? p rovide benefits Which of theDid foll y oo wi un rg e p tire eo e pale rli o er r g th ra on u p ps la d no n y ed o, ua u bs oe u a t w s a h s en o u pr la cn e o ne fd in , o fo rr lm ata etr io th na fn o rp rla etn ir ne em d? en t planning? Not including T So o c wh ial aS t e ex ct u ern itty d o or e yo m up Fi a lo gy rg e eu e r- p o re r ro d v6 is idae g d r e m eo wi ne th y, th ha ev fe o y ll ao r oe wi u y (n o og u r? y eo nu ro r ll se pd o iu n s ? e) s Ftig ress u •r ed e 42 O (F f ig th uo rs ee Ho 16 no w ).t we Ho cull rw r en d eo ver t lyy o ,Reti u w th o ue or n fkin a s d ree h e t ar g r le s a w e s ts a ito n tA e h f d q c tu an th tua h ao l e s v ad e f ao ll lu vi ag ll y e o s to r wi Doin o eei r , tn h g n n eo b g fn e g eta - n h m t e So, at u fiit rl ie stp s a r re r by ep a y cn eh ar iv d M o eiru n d eil s g g beh ita u yf o la ro e rry tl td io ir ret s e n Sta ear is s r em tr e o e tus d m la en at y o e ? trd em tlo iake kel wo y s r tt ko h p e la sm a cy ef eel that s ttrhes ey sed thi n isk You belie Hav ve e fm y ino o an u ne c a y ia d Sa tl ju os l s ev iv tre v in e d ic c ygs e o o s m u c r f o oPla tr a m tra p g b a en, ly n t ie rte h s by tr ir o u e u n m g dM e h en o ril s tu a tita ta g n ye o d ry u h sr in o rc w e Sta e tir t J o ea m h tus ne u elp n ar t y y y o e 1u a s r twi s , ? 2t0 h2 r3 e? tir ement F Biy guCra re 5,i g De Co bt’p s e Im lapnd act a on nd Ab YLi ioliu tsy (a at ro eG d S re oa in ve e gnwa /d fo idr) a Rl d et go io re dm joen b otf/ p Live repaCo ring m ff in oarn tab cialll y y ifn o rR yet ouir r em retir en em t, e n bty Military Status .............. 10 r t in ieg m die u vid lat inu io ral et in n s rives ret em ar iro tem m en un en ten d ( tr 6 s tet 8 ac fo ir p rc e er o m th u cen ei n en tr t t( s s Iv iR t avin s uA) .at 5 ig 8 w os n h p p en er tlh an c an t en h s ,ey t n ) b o , u r n c et t- al m tih r cie ey u li tl( at ar F ar ed iy ge -u h rh al o eo u s w 50 o seh m m ).o o u A lr d ce m h r lo esp m ikel no go n ytn ey h td o e en th o have p tey st.io w n taken o s u fo ldr lw a ikel h lo at y an n t o eed o r d o w tw io th itc d h o r ver a th wei al h r eal fa rs os tm h et o s nin e. 10 officers, trustees, or other sponsors ofSpendi EBRI, n E P = m e ng, 2r,5 p cle 2o n 1yee by t , a P ge e rB M Y ce e eili s n n, tef a n tary g = it e 2 ,5 R Ye 2 e s 1 Status search Institute-Education and Research Fund 40 t t g t rh h h espo oey ei e )t.ro n T c o s n fan h in it d n er u -en d m at le ive g it ilo ar s io t n ar o a e c. d m o y n C m fo o o h iR n n f n o et o o an g fu rt i ir t d s h b c ed ab eh en er o ial t lf h o c y r so o e l id h ig m rn s i o n n t r u r iet h h fet t s ie m a h c ieh v rian irem s ie n ilit o m t ab g l d ar en d en t iiy h t lfit ype ftit n er s y p = r la 19 an ien an n sm c 5, s g c n r o ay es ease e P iu n s er n g itft ce n h r.ad o s ey n Ho t m h tw vic ag e ar w io te h e e, n ev e Y x e ies p n o an er -e q f cfc ,o u d er tm ar 1 ed ap ed 4e t er p p rfa et o er r o frw o ic x rb r en em o i m ot rth kpl tat h en o o el s m fac e t y n i a l e io in 2 t g n ar p 5 es t-l h y m an t e o b an i l,et l4 i o tw 0 ar d w w op n y een er rer o kin h -n io cn - en g u tm ch s o m e it eh m l i t o ih lar e o ifo t lar A d g y u s r m sy h o eh -h o er u have u p o o is c lu t d eh an o s eh t as o ypes t sh l,s d o ret d s ee ld ep , s . - b q len u evel u t ar din tser g j u ss t Income ................................ Conc How Yo does e urrn hou of y so our efh a V ota ld ov le riou 's ................................ a erall s lo t n eg q s lifesty - u ta Sc el rm vae flu le in na e a in retirem n to rios c ia thl en b e e Im en d ent ................................ e sfpa it ar s now e rc d etin c if T com e fh e iv r o g e e se n dpare Reti t b en ty h a r ro n eto lle t o rem irte d how h e e in sr h e t................................ to y h o nt d e S ou u as ye Fi B ? expected h P o na an lds dnc . vete er s an , s of th ................. e 25 The offered reasons Th fo inrk tin ag ki a nb go a u tl y oo an ur o cr u ra rew nti tfh ind arn aw ciaal l s Re w itu er tir ate eio et s n o , n bu h =1 ow ,2 y 6 wo a 6 ho uld me yo,u c d ar e, sH c orouse r ib o et y ho eu hol rr l ar led vge pu el Incom of dre cb htas ? e e; to pay off credit Have you (op re y ro su or n a sll py o s us ae v) e d tr ie an dy t o m fo ig nu er ye f o or u r t h eto irw em m eu nc t? h / n m No =o 2n ,5 te 2 in y1 c ylu ou d in wi gll n So ec eia d t l o S h ec au vre it s y a o vre e dm bp ylo th ye e t r-im pre o y vid ou e d retire so that • Military households are m Yoo ur re m lilikel itary y s to er v d r ic ie se tag ir he arm s ee p e rn t eh t v at e sn a tv d ein d eb y g o ts ui s p f rla n om eg ns sat ? avivel ingy foirm re p tac iret m in eg nt .their ability to save for Work ne n =r= 2,5 s2 n ,5 21 =2 11 ,255 July 23, 202 Hav 4 • in No g Eno . 612 ug h Savings to Handl ane d f a inn anEm cial pe large nninnc g. y or Sudden Large Expense, n=2,521 F lIn F oig ig w ad u u err rd e e a it m i20 55 o to h nn ey tg o w b to h ilt e Per l hw d h o ec c o rk e u is s nt iw eh oin a to h ge t lo d a rof tp et ypes r o iM rfe e Hav i s lfw is rto ia io e tm h ry n y al io a n H u c fj ious o o n eb m an v,e es t rc e h it holds al e a ok fd a e$ ec d n7 vis i5 a s ,io lo 0 or 0 n a 0 o n o r o f o rrr tep h w m erit o esen ag h re de rc at o at wa at m iw p ve l ar h fr io c ie n h m d t an h w ye o i tu ih fn r u d tth u ivid o re se u th al w an ic tlh ai m im n ilc isto ar tm hyei e h sr o o S u fo slc eh es ials o lS t dh ec sa . u n r ity Figure 54, Extent of Expected or Current Sources of Income (net major/m Nat ino io rn s ao l u Gu rc ae) rd, o b r Re y M si elrit var esy nS =2 tat 8 us.................. 42 To what ext it to enbe t (d before o you yexp ou retired? ect each For of exam the fo ple, llowin are g y ou to b trav e / eling, is each spending of the ftim ollo e win with g) a source T t ex hhei p uen rs ,w s w o eh s rkpl ilie n ac m ret ie liitrrar em ety iren em ser t vic en (50 te sp c avin an erc en p gu st t p v iln s an d . i4 vid at 1 u p ret al ers ic r en e om nt en )a, b e t, et sttih tm er e nat =2 o ted r n ,5 ac l2 y 1 k hdo fifo w fr er m ren et uic c rh e e m ib nen et co w tm ,een e tht ey htey h set iw h ll o o fac u us ld e eh n m o eed lan d t y ype eac of s h th im e s o isna n m t nh o e n i n i-s sues n=2,521, Percentage Stn ro =n 2g ,5ly 21 or Somewhat Agree m r F f o bo espo u n el irlr io t ttth h ar w h (E ei er n o y B ts d rm h e R en h ii n s I o o i- n c r tu at E e, s o s R t m eh h i $ n F te e h 1 ) o t, er 0 h h llev o d 0 ie g e r s , h 0 el m tar m i0 er h n ,io 0 ei d e ei -t n – d ih rn e n t$ le y h e o s c2 , t o er - h 4 d a s im n id i9 f i g g fc s,e y s h o n t 9 .rer o m i9 g o fN u i9 rn c - e o ei (ian g o n vs u g tlrc y p h y rt. E o o er o o m ( d 9 m u u F ri p f re p p iE fs g s er lo er B o a u g pR m p r y r o en ce o p I er u en e u ear sn c 33 w e p es t o o ) h fr f) ar p fat o . ter e iE o n re T r B s s ag m h b tm o R h ese e a r n iIro e l a - iee m tr ll E et ar le y iR o k h s ir w y F lr el iia g e em kel ih i v t lh h o h e lo ier o b a kel y en u to b n - h std iiy teh o es e y n sav m c o ft so o eel o f o o t lm at n d trin s h e s e a em t y c e . g ak y o m fs w o n ten es rh ip fo lriie lan d r t e tp ar kin y ten ir to h y ar es n t g at m i h = e t te ih 773 o h o t n o o u an h n tf b u s ey s fer eh s eo n eh f o ed d n o o ro n o les d - lp a y d n s m o ec o w ar r u itlesp i io rtfe kn e ar ir c tkpl m ir o o y p en w o o d ac h d r ? lo e ien w c e u y lh s it p kel o eh s p l an rth o y o o avin p l d t(g o o 7 s o s 2 al h g ( tF ave p o si.er g fE u oc B r ren e R I t you can live comfortably in retirem Milen ita tr ? y / T ho ou p sr eep hoar lde s, fo nr= r 7et 22 ir, em Peen rce t, nd ta id g y e o wh u (o o r d y iso au grr e sp eouse) try to figure out how much card bill or credit card debt; to make ends meet; to cby over M an iliotary ther e Status mergency expense; to pay for home or car repairs; 70% n=2,521, Percentage Disagree F igure 6, Having Enough Savings to Han Very Co dle n an fid eE nm t ergS en om ce yw o ha r t S Con udfd iden en tLargNot e E Co xp nen fide sn e, t by Military Status.................... 11 • r M et iliir tar em yen -ho t/ulisve eho co ldm rfet orir tab ees ly ar ine rm eto irrem e lien kel t yt h to an M ils ita ay nro y n th -m at Non i ltithar -M ey y ilita rhet ro yu irs ed eh at ol dag s. es 62–64 than non-military-household workp fam lac ily e ror v etirolunteering ement savin as m gs p uch lan? as Sy eou lecexpected? t all that apply. Retired Earlier Than Planned by Ret M ireil d A ita bory ut W Sta hen P tus lanned* Retired Later Than Planned $ ret 35 ir,em • 0 00 en . I t f b th en ee re fi tis s ca ou dld if fal es ro e n hce ave i n a tm haj e o lirk ie m lip h ac oo t d on o rfet cio rem nce en rn t s oec ve ur ri tv y. arA io mu osn g s ce ret nir ar ees, ios r t oh ua gt h lc yo fu old ur im in 1 p0 ac t Figure 29, Sources of InformatY io es, n P Ulan s oed f t i o n Re fco ortir m R eet e Ei a in rrem li r eet r en irem t Pl Ye en asn , t? n Pl in a N n g L et t e ,o ss T b M Ryaj e h tir M o ae n r il L / iM $ ta ar 3te i5 ny ,0 ro 0 S r0 tS *at o No, u us r ce No ................................ Change $75,000.................. or More 26 35% Do you V e trh y Co inkn y fid oe un twill d So o m ae nwha y wt o Con rk f fid or e n p tay aNot fter Co yo nu fid $ 3 r ee 5 n,0 t tir 0e 0? – $74,999* Very Confident n=2,5 S21 om , P ewha erce t n Con tagfid e Y en es t Not Confident r as m et i lit irth em ar os y e en h w o 40% t u 70% h (s o 6eh 3h p a o mve er ld on s c e n en b yo ei y t t o n vs b u g een n . m e5 eo 4 dir n ep e d er t lh tio kel c e h en m ayvt ie ) n li, s toar an a t vy ted o ,d b s p kn u lyan c t oh h w n ea e tw sd im h w f e at o h yr en o th u ho ey rtw e ot ir w rte et hidley li s rd e, o o w t h p o w aru tes i y tld h o er u c th o vin ce ver o ug as ld ran s let et iv i es r e e c m at m oer m en rfet g oten r itr a ae b c sm ly y s et en o ins r r t ,b e ,an tian ir ge d ex m d w ep n no en o t? r kin o sn ee gi n o in p tion is Major Problem Minor Problem* Not a Problem* g vs ad d 21 o o.jn o ) u .6 d e isWh 3 n tf t vit ed ih p ne er en an es tc 60% c h al cen a ei c ial c s oru ked tm )to l,at ar m rb ig ren o iu et fet n tt ti h tr tr h 63% o em h ey et e n an i d r en tag em h in fifts r o er ee en p n ren ese l-an m tt h c ag in lar at e iitn e ar ics g t h h s y n .ad iei n o hc rto vic e h u so ts Je at an eh u s ( is F eh .o til1 ig d co ,u al s l r 2 d lo e y 0 ’s f 2 28 stl3 io h g ,) n e n .w g is Wi f-iiam ttch er an t h ei m eitn g i( n fh eac F ic n tio g an im n u h rc e 1 e iin al 0 l4 evel c n o 7 no m ). eed t e O ( m 7 g s fakin 5 rtar o h pu o e er p s gd ,e c an i en tfo h fer fer tfad er en v e s jed u ar .t s 6 te ta h 1 m an n p p en o ler an ts th c ,i,g en o rn o s eg ie v tf)er iar c ,o an f w d ei o lh tes g t ih ld h e ser itf tfo i h er n fer e 1n e 0 c ar o es fe because of job W loh ss ico h Ar r o m a fy t sh po e u fse’s ollowi jon b glo , s if Vs; e a r t y Co no y p , a nay fid re f e r n o e tra c sh oin lS ds o m cya e o rwha u e, e to t lo Con de k ra c fid l ar e on e, a tn o o r a r Not wi not Co th hd er n rfid a c wa e ar nte l gi frv oim ng y o ob ulr igat retio irn e;m to en ctover an V Se trron y/S go lym D eiwha sa Retirees grt ee Well n= S1,266 om Not ew Tha oot D /No ist gr Aee t All Well 49% Figure 54 ( 10 co 0% nt.), Extent o Ho f E w xc p oec ncteed rn eo dr , if Cu atr a ren ll, atr e S o yo uur c aes bo u o tf e In acc ho om f te h e( fn oet llo wi mn aj go pro /m ten in tia ol r ss co eu na rc rio e) s, by Military Status ....... 42 Figu • •r e 31 M r M et 1ii0 llili0r en t% ar een y si-.al h om us ileh itar oy ldh ro et u Tis o reh ees wh oa ld tar e se x ar te m n eto m d re oo ylr S io e ka uel v l iakel y e g d rte o y feo h t o ro ave r r d e bis te ir aw e c go m o ren re e ked f n iwi d te tn h n f t =1, o th rt e h 8 p fat 6 o a1 ll y o ts h wi ie n nc g M e s ed t ta htiey c em ar e re n et ts siys r ?ed te m th an wi ln l o co nn -m tin ilu ite arty o- provide Military Non 32% -MilW itao ry rkers who say they will retire n=1,171 Plan to retire or have retired n=2,437 40% rIespo ntrn odd en A uc m ts e t or ion fic ba on t h s ’h roe utsir eh eo m ld e n typ t fes in a stn ar ct eed s o orr rp elan tir e to m s etar ntt itn akin geg n e th rei alr, S m oil ciit alar Sec y h uo rit u y sb een hoef ldit s r eat sp ag on ed 6 e2n ( tF si g ar ure e l4 e6 s) s. n=2,521, Percentage Yes As for deb 101 t 0, 0 % 05 % 5 percentA o P f em rso iln itaar l, y P rh ofe ou ssion seh ao l lFd ina s c no cia nls A id der visor debt to not be a problem, while a lesser share (46 percent) of F t rM rh et et ig e iiu r ril o em em re ver itar 7 en en ,w Di t th . ( el s F 5y t S m u 6 re ir b ip tp n h H a u er g rer taly ic o teou m en n d po B ro tr ed e fe, vs s fo S o r.m er eeh m M 4ivic il7 n iilt ita an ar p eold er r y y Re tA c fex hfen o iltir p ius at tec e s )m eh i o tteand h ed n n o an s tl dfac s o n rtar on it oh e n -Ret e m .l ess M iliitlar it liar kel ir y y hemen y o Ho u to su eh s sa eh o y lo d ts h ld at t: F s (F ................................ itg hu ei rr eindi sf in 3an 8 an cng ial d n 3eed 8s ( F cs o n ar ................................ rom t.e ) )d . iHo ffer th w en ever t fe r,o m th20 e thos2 .... e 4 o 12 f 54% 71% h b t h nh o o et oo u uw d ss se ieh eh een ffier n o o en ll td d thh 1 s e c t 0 e ,ype es 0m lo % tw w ib d o ( er et d Flh w e ig o i- n een u u ic n rs o c e eh m o 4 m to e h 1 le e ). d n g on h tr ypes oo -u Iu m m sp eh ipl ia an itn o c ar t ld in d ty h g al te h ype s y m o p a ou v u er os s in rs eh c rtf g e en o al ts o ir r t lle p d ag tm o h la sfe ee n ar n t ? lh tag o e ? o w P Net s m rle er e ee o a V - irn is tn e e w eg rt y lo h s i/S kel t e e h in o le at h m c yc io g e tttm wh h o h aer ey e ll ag a t - tg ih r Co d n ree a o o ctu o n n a c p m tp e o h sre p t.an n ly kn e B g d .y rt , o o h n g u w ei = en p 1 2 rw 1 ,5 rer m % ep h 21 er at ilo itie r ar otn ty to ,h c B e go ab y ou ar n fy o t 36% -e er rB g o c po o o ar o n m d tts r an i fb ( in u Fd an itg in u c g rie al 22). F edu igu cat re io 6 n e 90% 60% xpense (tuition, studen 90%t loans); to co Ret ver ire m ese n di =c 1a ,2l 6ex 6, pen Percses ent; a g ae n A d go re th eer. Figure 30, Percentage Who Work With Hav or T eh yin ok u T wo hey rk eWi d flo l Wo r pary k s Wi int ch e a y o Pr u o rfees tirseio dn ?al Financial Advisor or Representative, 100% As for cob h nen o fiu def s en eh Mit u cso ch e lo d B ifn e r at et tt th e irle r east T ees. g ha onver E eq xp n ue m al cte en valu dt p Se roo m tg o er wha a th m e t sB bte en h ttat eef r T ar i56% t hs a e nr E m ec xp ai ein eved cte ly df o bry Ar b r et o et u ir t ir ees tees he S — atm o d S e a ay oc s E ial th xp an S eec cte M u dirlilten y Wan n orise al d T n M hoed an n- E im cxp ar ile ie tcte ar — d y being able 34% 88% th 86% 19% Howeverli ,35% k m 190% 0 ei0lly i % tar to y- e ho xu ps reh eso sl d co ret nc ire ee rnr esp abo ou nt d en tht es s ar ce e n m ar or io e sli kel tha y n to ar he ave no cn lai -m mil ed it ar or yp lh an ou ts oe ch lai om ld b re en sef po itn s d se tar nt tisn.g The at 100%30% 94% 58% n T Fio h gn e u-rR m eet i5 liit5 rar e , 80% m 90% y Wo en ho rtker u C seh osn 8’ o fE 33% ild x den p s ec cco e tn at S siiu o d T rn er vey os wh Ab d eb a (o R t e 54% tu CS x tt o tWo e ) n n w to d ras tkin o b yc e o g o u a n Af a d p gtu rrer e c oe tb ed R o le ret d m fio is r em ( raF g iitrg s en eu e34 r t wi e v t4 s h ) year . t .h R C eet f o o irir ll n rees espo o 2 wi 0 n2 Ac gn 4 s d tttu ia o n al t e g 54% m 1lm l1% y y, e eDo as n3 t? 9 u in rp g e er at Sc oten ,i tb uty d o es M f n iltio o tar n w-y ar mS d ilt i,tat aruys ... 43 25% 60% Yes, in Past 1 Ret 2 M ir on ee ths s n=1,266 Y, es, b P Se M BrP il ut c ita A e M n ry or ta e T g14% eha Yn 1 es2 M28% onths Ago 33% 58% n ho ou ns -m eh ilo itlar d y type hou s sh eh ave Ha olv d e ss i,m t abiklu ar etn t lh a ike el l oria et hn oi ro o em d r s w en ( itrh o td uan rg ah w dly a hlh e fal al ro ftm ) h o c y fa oh ru e avin r veh wo gri c k tlp h es lo au c fg o eh r r te t h ab tio re s oe m utw e n h hto o w s s a er v lo in n ved g gs t h p in ey la tn hw e n i=3 lm l l4 iilve/ i8 tarh 56% yo ar w em , an in y my aear ny s F ad m Gu en o r vic n th er S ee. er y u at g m t io o g o b n e trh y e, s X e t M e h ip n id o lli an tu tar C h s.e ieh y t a m S o ttliio d d at s d n u lh e : s - ave ................................ C in ocp os el m im an ei ld ar g,r o Cr liu kel p ai F, a g ih m m , o ilan io l y a itdar d n s d ................................ y Lis o Ffh r a ien d oo u G disn r s* eh een g o th lw d e s a rlar d et , e ir“em M leislien st ar ................................ litkel yn H eyed o tu os s eh ag cal o rc ee ld us l at tan hiat od n tR at het ei ................................ rr io r em h uo gu h en s lyeh t : o o n Fle id n -’d h s ial n nfeed g s (F Fis g r o u a ... m r re e 26 • • In Non 90% 90% th -e mu ilip tar per y--h in ocuosm eh eo g ld r o 89% ru et pi,r ees mili tar are y m ho ou re seh liko el 28% ld y st o ar s e ay m o th re at l itkel hey y tro et s iray ed tat hat ag t 80% h es ey 6 c 0u –r6 ren 1 tth ly an w m orik litw arit yh - ha ousehold Retirem 90%13% ent Confiden 87% ce Survey 90% 79% 19% to Fig c uo rn e t8 in,h u Di o e u 90% stso teh r ip bo r uo ltd vid io sn . e o b f en Pay ef iG tsr ad of eat s flo east r th e eq M uial lit ar valu y H eo tu os e th he olb den s ................................ efits received by retir................................ ees today, half or 40% mor.............. e 12 50% 78% You feel you have enough savings to handle an emergency or sudden large expense 13% 50% 1 80% 90% 72% 14% 47% ag e 62 an scden 90% ag ares io s6 3 less –64. likel y to be of concern to military households include the potentials for rising housing costs, p h As r oep ufs oar eh r at w oh ilo d en s n s c ro fet o nrisr ,i ees d an 18% erd ac d u eb n tu d tal er tlo y s tb r an et e d m iried n in go , o rt h fp e trh od e bi s lvar e tr m ib i,o u c u to is om n isp ss ar u oes fed a g sw u es r itrh o at u 3 n w 2d h p in ier cg h c ren m etiitlri tem o ar f y m en - ian lti tb ar dy y n Ao h m o ner - um sieh c ilan ito ar l d w ys-o , rh b ker o uu t s sb eh an oto h d l d h r et ouirsees. ehold c th as ey es, •w id lli M fsf 90% p er ilen iten ar dty ifn h r o o rm et us ieh 81% trh em o oslen d es i tn ar . Wi te he m thp o r rries e vat lp ikel ec e s ty ec ttoo t o ts as r,ay w k st h h ric eg at 28% h ar tw hd a ey irn r an g s tS rto s o n c sg ip al lec y S 39% ag iec ficru ee kn rit o y, th 20% w at m led itlih g tar ey e y 31% o ffeel h h oo u w tsh eh e th y oes lh da e sve ar ben e en ef m oiu o ts g re h i n ls itkel er avin ac y g tt.h s a tn o 80% 3 d4 if) fer . Ho enw t ever th 50% an, t7 h2 o sp eer ocf en otth o er f M ho ilu len seh nio alld m s itlh itan ary nh oo nu -s m eh ilio tar ldy s h ho ave useh do on ld e st . hT eh c er alec u islat nio otn a cs oim gnpifar iced an tw ditifh f er 45 en pcer e c aen mo t n og f the Figutr he e 58 2 p ret 0 r80% o 2 ir f4es ees Rset i.o in re al m fen inan t C co ial nf iad den vis co e r Sourr vey repr,esen ” EBR tat I Is ive su te h an Bri ef no , nn-o m . i6 l47% it1ar 2 y (E hm ou pslo eh yee old B s.en efit Research 45% Insti24% tute, July 18, Navy 35% 19% Workers Retirees* 31% Figure 56, How Do Retirees’ Lifestyle 22% s Compare With Wha nt = 2Was ,521 Expected Before Retirement, by Mili36% tary Status ........ 44 30% Online Resources and Resear78% ch You Do on Your Own 80% (regardless 70% of income) are confident this is true (Figures 17 and 18 29% ). However, military households in the upper-two 80% 80% 80% 71% 71% 80% 31% 74% 74% 43% F igure 31 in , cPer reasin 25 c% eng tag co e st Wh ofo l ivin Wog r km Wi akin th g a iPr t h oar fed ser sio fnoal r 34% tF hie nm an c to ial s ave Advis as o 39% rm ou r cR hep mro esen ney tas at ive, they by w M an ilti,t34% ar an y dS h tat avin us g an to d make By Craig 80% Copeland, Employee Benefit Research Institute, and Lisa G 35% re 34% enwald, Gre 73% enwald t r T G Type espo h h iven o e ss R e n CS h to d h afen at ve ffer o t 50% s u s ed so n ir m d et m a i lt ian ar rh red et at y le i rd h w vel eo av m ons ren e ’kin tw a kn th gs g o o avin en A w 27% cm o er w n er gal s h s iic er d p s an er e ilm an s td i’o l eb ar c w g oier o tn t y, fte fio d oex as en rb r e c ked et c ep a e i rm ti em n w m aj h hien o avi et litrar h tp n er p y rgo l- an h t b en h o lem n ey u o in s ueh g .u g N n h h o d o el m ler d tp o sr s ,n u esp tian e rtp y ir s d oit s n o u v id n s ar len ef ig ve ilo y, u t u s lc s g to ar o im fven e e ufat n o m d r utto er rh ab es rei e s 21% ltr y an lan i k ltoel h d d w r y o w er reg u th o g rat u h ep hlo ave at p o ue ir to o t r ed n p ret s et le ir d r ir el em o eb ed rat t e ed at nt Figure 9,h Di an 80% sd trlT e ib o b an ut uiy a oen m ho o er f m g Ho een , ca w c r y , S oer o r o rvic th su ee rd la d E ren n ge d p ed lar ur ch g fo e arse ex Vet pen er 27% an se tH ho an us eh n 24% oo nl-d m s i................................ l27% itary households 46% . ....................................... 13 non-militar 80% y hM ou ilita seh ry olds to h 38% ave revie 68% w 44% ed the amount of their Social Security ben 53% efit and to h26% ave though 4% t about how 80% 80% 0% 20% 41% 40% 60% 80% 100% 76% h Miig llh en 2 er 0 n -2 iial n 4c ) o n . m one -m ho ilu its ar eh y o hlo du s.s eh olds. 57% Figure 21 70% Military 70% 7% 14% 51% 71% 78% 45% 44% 44% 66% income groups are more likely to be confid Sen tron t gily A n th gre es ee * gover Som nem wha ent tA p gr re oegram Di ssa th gan ree *the non-military 46% households in these 70% 62% 55% 24% 20% In 70% come ................................ 47% ................................ 39% ................................ Non- 55% ................................................. 27 Figure 50 63% Research sub stanY tioal ur E cu mtp sloye to rt o hrei In rfo srp men atio dnin Yg o ub Re ecce au ive se ao t W f io n rf klation. 50% 70% 40% 45% 34% ag h F it g s o ir as s g o es u w u u es, r n o p e 62 o rs kpl t 5 m Am – 7 fu 6 ac i,l l4 iler E t 70% y e ar x an irp c ry ec et an ec dh o in to r sver ed em o uds no eh - ed S en m u po s en itil le n id s t ar d a s as 2 vin i0 n ar y 2 g -s 71% e h g 4 o v o s u m s fu rrp .c s o o lAc es eh m an re to s o ilu til. kel fd s al T i2 n rh S y e 0 fe p o s 2 tp en rh m 3 m o an id n d at lird it n o ar n ien o g p on y ,n to s w - h ffo m o 59% ar h R ru i iet lc e rs it et h e a im r h r iw ees, ry o o em as lrh d eo en r tb lu h ies kel y s e teh p M p l61% y o ar lio an n l67% tilg to d d ar est n en sh i18% y n ( av t 6 g s S o8 . e tn ar at T e p rh e et - er uyear e sm ic 24% r ................................ ten ed o or p t e d at fvs rlo o i kel u ag p . r 5 s es y s 9 i n o t p c u o 60 e er r r c ep 2 – c es 58% en 0 61 o 0or t 8 f) ( t. Fittn R ih o gfet ..................... at u odr ri ir e m s tees’ h ag 4 at ey 2ri) o ee .n Wh tar hat e en 44 F t Fh ig ig e u u ag •r r e e e 43 32 tM h70% 40% ey i litar cly ai -m ho u Ss oeh cial o ld S ec ret uirriees ty b en are efm its o rat e liim kel pac y tto s s tFi h ay egu am thre at o u t45 h ney t o fag th ree e b w en ite hf it th (e Fis gt 70% u at re e 25% m 39 en ).t that they spend less than 70% 25% 60% 100% Military 16% 70% 63% Military 70% 9% 25% 55% 46% 55% 20% i Fnig co um ree 1 g 0r,o 70% Di 60% up ss tr . ib Fu ro tim on a o g f en Ret erir at em ion en alt p Ser ysstp em ec tfive, or M oin litly ar M y iH llen oun sieh also lsdh so ................................ w a difference in conf................................ idence in future benef....... it level 13 s 70% 67% 60% To ma 66% ke ends meet 66% • Non 60% - Rep 2m 0% Choi ilrietse arnyta c h tie o veu s s F s eh on roo m l Y Wh ds o uar r Wor a e t m W kp olace il re l lBe Re ikel tiry Done e m to e nst ay P W lan thith at t h Reti ey drem isagree ent thSa at tv hin ey gs feel Wh they e 25% n have Reti en ring ough , savings to Append40% ix 1: Methodology 18% u c d T c as As o o eb n uked n n d rw n f s ter i iiid s n its s h en tg i ten f n an d ttc eg o h o te d ei iac n at t al h eac rg r is e vel ro o a et s q hs h ru y i et r o as est em eac ifm i r the e n ip en o h m o ac n th en t s tr o o ag ip eac n n u tec g sn e w eh h ieed tfh w h ed ie o et ei as d ls d h r i f ter ear c ab eat t syp al p h ic llr e u iio u ter e : ry u l-es at f 2 sta teh 0 o i h m o an 2 an n so 3 iave l,d ly ,d lt e s h lr an at vel eg e ag f er d olu .i rr kel f l ee B at r trh iet o en iian o t h t ih rn h o d e ,o s at s w m o ; d (o r en F r a r o et w iker g fp t h iu /er e rlen em rver isve e s an o 4 p en n c 8 h ld al o an ) a t m . , r vin s et n M p favin ed o riig o r lriees t tf, s ab ar es g m ave s y s li y e liiih o s x t d i o ar n n p n u fal ro y o ress s et - treh f h ia rin o r et o an em c u plo is d rrn ic eh e o en r ic m al r esp er o itt en ly ad n d ( o s F r trviso el n iespo ab g in d at u c en o rr ire ve ease u ;tn ts 5 o d an t )n ar en o .l s ie In n t ti h w m s e p e ad iar ar p t r h es c ac t e d u iio c ir n tt m r u u ic en o o lo ro ar n n cm rt es ,e l y e C • opIn tyr hey ig M thh e il ct o ita u u Ip n ld p ry f er o b ec r -Reti m inau c aot sm iree e o e n t h g :ey s rT o ’ h u A w ip sge o , ru m ep ld s il o o iltirar ke tf Re iy st o h c o oltire eave p uyr seh ig m o h alte d ed ls eg nt ar b ac From y e y tm h in e oh rE er e Po m liitkel p an ls oc y ye te -tM e o th B il b an en e ita cn eo ry fon it n f - iR Se d m esear en ilrv it t ar iic ny c h - te h h Em In ei ou rs stab eh itpl uio t lie oy t ld y( r E tm et o B R e icrh I) ees. nt o.o Y s o e u t h m e ay 60% Retired From Military 24% 63% Figure 32, 60% Percentage Who Think They Will Work With a Professional Financial Advisor or Representative in the Future, Air Force 19% 17% 60% 60% Provider SBP B 20% 31% Figure 5860% , Per 60%centage Who Agree About Various Aspects of Their Retirement Spending, by Military S 52% tatus ................ 45 betw •een T m h 90% 50% ie lit t ar oy p an fod u r n o sn o-u m ric lie tar s y ofh in oufso eh rm ola dt sio , w nh ar ere e m co iln its ar is y th eo nu ts acr ehoo ld ss s ar meil m itar ore y lan ikel dy n to o n b-em cil ointfar i42% d 49% en y h t o in u t sh eese ho lds: 48% 6 • • M In han i litth d ar e le yu -an p hp o er e um s-eh ier nc o g o len d m re cet y g io rrees o r u sp u ,ar d o de fen m th lo o ar r se e g th e ln iko ex el t y p c by en u to r59% r s en M se ay il t th l y ita tan h w at ry o m rtkin ih lSta iey tar g y rw tus et h itio h red u an seh ab ad oo ld vis us t .o w rh , en no n th -m ey ilip tar lan y n hed ou s th eh an o ld ns o n ar -m e im lito ar re y- 50% 60% 20% 30% 26% f ln m an T t liir h kel kel eed h o iei ld e m it ry y ar c r R s ese r o rt tet et o y o o p ou y, f iih r s u r ar g e t o em ay n h h m p u cd lei r h y ser en t en ieh n rh ft s to h ey ftt,am o t u ey an C o flrd rr o r o s et ii d d n n lm d y o ar f io t, ir 1 h d w ed io a 0 e n e en n n fq m am t l lw at c o ax t uo h e ad ar h ir o ei o en e S tn tn r rer u tg eat l h io s r k p vey, itw n tel s layin o an m o n y r n ep a ;en n - tan m io g ed tn o t h is r h id lo i r tit ay t it d fs g h ar s t h w h o an 34 o ty ei lif h el f t o h r h at tn y h r o d e o year e u f r at m tn o aw h sh - r p ey eh m l o ea lp al o u i io er n lyer h s s islt eh d av ts ar 2 b s o t 0 e o e y h o n 2 if- n le ral o d 4 en h ris ,t o n n e h an o u ex ifag s e o r u s d et r t eh tg lrm h o ee h 1 in e w ro at 2 o em s ler l n d w avin o im o c n -en irn o t io g esp n h m n est t c t g h t to m s h ( h ey o m 8 s -ier tn s 7 r o e u an d r c s p n ec en h g ital er d at n an rei o it n c e fs u u d r ve en g m s o p ( l e, e F m s en t tat iu ) an o g p , r tt u vey h r 8 t w r o (h e e 6 e F o vid e m iU r p g 4k o d er .er u 3 ed fS ir f ( ) g .c fie F . t er en en g is B tg 2 h o en o kin u 3 c t at ver t r y )h am e c . d al o e T h n 29 , rl o h o m b m s h n e u et ). u en ar g ea so d w eh d n t t d T s e h e en h u m o en c o e r lo e s d akin i n p e x l s R ar g ti c ie y ig o ep n g s p w n g t e h es ti r t o fh et iio r a c e k n a n ai er n dn its Figure 11 ri,g E h 50% n t rro et llm irem enten int tp hre o d Su uc rA tvivo Did sge o y rr o iB n u ves en woe rtf km i f t o en Pl r p an ta sy f i (o n Sr B a t n P) h oei th ore f rs Ho icta uru at es eieh ro an fo te tld h r s an y oR u et n r o m irn iled - itm a rF iylr it s oar em rv y ic th h eo e ?u M seh ilito ar ld ys .............................. . 18% 14 b 60% y Military Status and Income ................................ 31% ................................ 0% 15% 20% 40% ................................ 60% 80% ................ 100% 27 60% 45% 30% 15% 50% Financial Expe 12% rts or Gurus in the Media 33% 40% 50% 38% 50% To pay for home or car repairs 20% programs fam 50% (Fig ilu y re asn 1 d9 f r an ied n d 20 s; ). a personal, professional financial advisor; online resources and research they 50% A T A G L A N C E 15% 50% 50% 15% Military retirees n=4228% 3 lh ikel o 80% 30% u 50% s y eh too s ld ay r et th irat ee tsh. ey think they will work with a professional financial advisor or representative in the future 39 ex h s t d hriiiave g ad f gp f n h p er en iier er tfen iic o c s -c o an n e ien n c n al e c ( s tF t o i d b c c im o g o h er et fu n an e ab w r lto e g rg een iw lr b 6 es e o er u ). u p t - p itier o in o n n an fc c o tsen h o r d m ( e m 8 t5 ag Am at e 64 n i p es o p o er er n er n io c - s c cen f m o an en t u ih tlr it)o t r c ,ar et es t so c ey iat r 9 iem w s h c 0 o h h tp h o u - en u er at sreh p tet c m s en cio y r o iled s ld n titt s tem ar f r o ear ia b y rg u . m r h tlAt ee iio e io lu ir n t t s ar ts h th eh h e y at (an 8 o sh 2 am lr d o et pp s u l an er ie srar eh em c tn e ien m ed o en m le d t,)o ,s t, at r ts an ( e hF a e rlivin io d g kel su u u tg g rh ry e h s v e ey l t35 iy th sax an f) n o al . o u t s A tr n ro eat m o a in s n o p h -m n 1 r m oig 0 o w ei lr n t tis ith o t t ar y, to o h o s y fat n e s w h e i g w - o m in h tu ih itan al fs h d ieh c f ry .ian aw n o w ctlo d al lo y m s rsker h es td o ig u s h s irn ay er in g an d an rety iree andc o al nlf icdoen pyr ce ig ab ht o an utd r et otih rem er a en pp t,l ic an ab dl e isn c oo tn icd es ucc to ed n tan ainn ed ual tlh yer bei y n th , e an Ed m y po lo uyee ma y Ben citef e io t rR q ese uoar te cshm In als l tp ito urtte io(nEsB o RfI) 35% 50% Online Advice or Advisors That Provide Guidance Based on 11% 40% 30% 25–34 35–44 45–54 55–64 65–74 75 or Older 87% 40% 86% F igure 12 do on their own; and their employer or information they receive at work. The significant difference F Fiig gu ur re e 1 33 2,, 15% Co Perncfen iden tag ce e io nf Havin Worker g s E n an ou dg R het Mir oees ney Wh to o Liv Ce alC cu olm atfed ort ab Holw y T M hu ro ch u gT hh oey ut N Ree etid rem to en Satve , by fo M r iR liet tar irye m Sten atu t,s ban y d 50% 82% 45% 39% 53% Figure 22 th 40% 50% an military households. 80% Employment Status 40% 20% 40% When you retire, you will have a choice about what to do with the money you have 40% 96% 13% F t an an r t t h h h et ue an ey r d d it r lh em tr G oh u tet er w h re se en ei im e er ren r ees rep o n -t 40% iw r m o n ( e o n 8 c al i, h rl- o 0 itd p aven r tm ar e p r p R s o e rer y p o fesear ig o vid tc c ’ tr n en o o o d p u r ed u en g r tn c p ) ep an t. h ,er t t .T s h ar m ip z T h at fat ed iar r er h li o te y itar m o e s o o 2 n u y irat s 0 s b d 2 d h o a ti4 2 h o o tdh l 6 at u n ess s s s ’h u o p teh f o r er o p er ver vey uc o rc s ep u len leh d ib s kel s o ar at o t o f.ar n e il i2, m d h M e s o f 5 t io er lo an yp m F i2 rtd o vin ar 1 o r rd es m et o r y Am e fw u g i c lr ru a lie es ia its t er n ke h m e d s p ip en lp c er to y h an r ec n o s e t td .o t p is an fen s er ih a c w m ave d tas g c sin ie r tw o g at c tu 41% s er o o iraved p o p n eq e n d o f.fu u o r u An ic u c rrtfed r o to ed h y m rrer eas u m m ro et sn a iu e n o is ln riin ked n b m em its e eyo 41% y ui J en m n as an i fn t t d h d t a .h t i e s h 2 tei s th an s o rr te a iu h bm m r r s u n c o c te io e lu o ii o t n o g p o ar n -r h e fm s d y io J er n i(lan s fR if t er o tM ar fh .o rvic 76% m D e y r 31 sr at fh e ) et o , o ir fp 2 o iu o eg rr 0 n s ireve n 2 eh .o b g 4io n .o n tg Al lh td ed s l . 70% 40% 40% To pay off credit card bill o r credit card debt 45% 19% 11% Marine Corps 11% 71% 51% 20% 69% Figure 46 In come ................................................................................................................................................. 15 bM et 40% iw liteen ary S in tf at ou rm s at an io dn In so co um rce es ................................ is that military househ ................................ olds are more likely ................................ than n 66% on-military hous ..................... eholds to say 28 20% in your workplace retirement savings plan. Which of8% the following are 39% you most likely 20% 30% 10% th 62% 30% 30% The Retirement Con On fid lien ne c an ed S Su or cial M vey e (R dia CS P) o sts was or Co com nd mu un cities ted for its 34 year E in m p 2 loye 024 d *to m Une eas mu ploye re 65% at d*titud Ret es ire to d*ward, h t B S r ear h espo io y x em u tg leen iser ren eh eq n f rd er to o u h p en lm iat an d er r 10% es tits s c o ype p avin en n w E l,an B er tt s R h o g n e ( I’ er f e 6 fs ag d b o 9 e : p o r es p ar r ttrh ier h et o e ey 2 rh c i r n 5 en o e em o u x co o t p sr s eh u en r fio es g o ld ln ro td s .ilaf m er f d iR p c fi.o t er an lo iypes t u T rar m d g h t 32% h e y id ts lo i s y s vs fs if u o r ai er 9 et .rn 0 vey d en 5 .i rp 6 tF e h c er o p es e iear rn c er y c p en ilc u er ln u ien s er t d m ed to ed h tt if e s h f n to san 1 lh o iiro kel ,e n 2 n n e p 5 m o sil5 h ,n o an i o lp -fiw tm o ln ar teas o d h ed ir l y e iker o te ar ;f h o o tfh c y) s h fu o avin er er an .s n eh ed te ac dg w o s 1 tls er o d ,E a 2 s uB e ved 6 ,r R c 6 rces eg I h ran at et f ar o o irfg rd p ees r es iler n et ess fm o iat ran rem im o s ts fd h at ien o iei n iin n o c rts c n o @ c la u .m o m d eb In m e, es op r n c d ian .g o an o is n r ty, ag t g h r o e .as s r ver ee u h tc o , s h u tn a h s o a m at e s nh p - o le ld 30% 33% 63% 30% 62% 38% 56% 10% • In 40% 30% 10% the higher-two income gro34% ups ($35,000–74,999 and $75,000 or more), non-military households are more 10% 30% 60% 43% 20% 40% 40% 30% 30% 14% 26% 32% 30% Figu •r e 33 In they the u to slo e d w n oer o w n -i- itn p hc r o toh m fe it e m o (ro lg ess n an ey iz tih at nan iy oo n $ u s3 r t 5 rh ,e0 at ti0 r 0 e fo ) m cg e ur n so tu o sp n a, v sn ier n og vin ns- m p gli a la it na s r w py ec hh eio n fiu cy so g eh u ro o ru e ld p tis ro e ar r? c e S o m e m le o m c re u t n alilikel t l y t has y a tt o a a p ag sp olu r yee .r ce th oat f their 33% In this Issu 10% e Brief, the retirement prospects, knowledge, prepar SBat P C ions for retirement, and experiences in retirement are Military* 10% 14% 12% 16% 19% 30% 13% 55% 38% 37% 44% Endnote Non 30% s -Profit Organizations Tha Tto F m ocu ake s o en n S ds m erving eet a Specific F t o p d m types h if o rg iei ep lw 8 u itr2 n r ar ar e 9 s ,s y er iat w z 1 re ih 3 vic iin t o s o ,h g p n u Co e ,o s rsc o n eh p fln u d o o rfg e en s r o id ,ven u h l d en an r lty e, s s c td s far ed e ro even o u e rim n n r tm d h e Havin m er o e oim r n ris g le it 1 tan an far l0 r ig k o iy d z el tm E o at ih n y n o ei ig so o tavin u o u g n o s 1 g h ; fs eh 1 h tay % t t g h h io M n ey e for l td o 1 h var s n 0 at h ey r (ad h et 3 ifo a 3 a t iu vin r m 0 a os e m iw h T lig s y eal ake o en ss an ruave ker tes t h d C ( F s p ar d s f irr u g an io e fen ru o b rr o d o rle d em f u r 4 set B n 2 9 ar d 4 a i9 o rs i) 7% n em e .r ir c g et a a E en rid s x et rees) o ip s tiu en r a(em rb F cs i.ie lg es ien tu o y rf;Du te ian n b36 r fyo id nA ). r g m tm h R at ey er et ii o c iw r n an em an fo w tr en ed o ret r t ,ker t io b r em yd s 31% o M an en islio d ttm ar r pet et y lan iS h rees. t in n at ig nu gel s. se Figure 3420% , Per 20%centage of Workers and Retirees Who Calculated How Much They Need to Save for Retirement, by Medically Retired 6% 0% • M likel ility arty o- h bo eu n seh ot o clo dn rfet iden irees t th ar ate 26% th m eo y re willilk el ha yve to en say ou tg hh at m to hn ey ey bteg o an live o c r ow milflo b rt eg abin ly ttakin hrou gg S ho ocuial t t h Sei ecru rret ity ire ret mien rem t ent Non-MilitaW ryork20% ers currently contr51% ibuting money to emplo 4% yer’s retirement sa 45% vings plan, n=695 4% h20% ousehold’s long-term financialGr no ee upd osr Co are mm diufn fer ity*ent than those of other households than military households. inf 50% ormation, while non-military households are more likely to say that family and friends are a source of 20% 20% 10%5% ex Tha om sRe e ino ed p ffo er 20% r fo t 20% ed 7 rA tv a hail opsle an ab w il w hio t er y ar e : e T as h fked r is o m rep w a o hm rat t i liis tth ar avail ey y w ha o ob u ulse ld eh oco n ol d n th svs ie d e .in rtt h er to on s b e et e w t at h h o ew m ar wo e w s .n teb o valu tr if.ro o ab rm gl e a im mp ilirto ar ve y m 28% hen out ss eh to o lr det . A ired m esc enrti ption of 30% Non Non 20% -- M M ilil ita ita rr yy 3% 10%13% 20% 47%84% 37% 23%29% 20% Military* Non-military Military Non-military Military Non-military Military Non 39% -military* T (F hig e uR re CS 4 4 fan M 10% o 30% ).u ild n i t d ar In t y c ho S at m tat , eiu n ................................ s 2 an 02d 4 ,G A en mer erat ican ion s ................................ ’ con ................................ fidence in having ................................ eno................................ ugh money to live ................................ com ................................ fortably througho................ ut ret .......... iremen 15 29 t 5% Military 49% 7% 44% 10% 23% 34% • b In year en 20% th ef s Coa e ittu h s p st an at p G er m ag ua -irile n d itc ar 6o2 m y an h e 2% og d u rs ag oeh ues po, l d m 6s 3 i.l– it 64 ary th han ou sneh on o-lm dsil iar tar e ym -ho oru es eh likel oly d troet h iraee ve s. tr ied to figure out how much money 5% 10% 30% ChatGPT or Other AI Tools information. 0% To pay off credit card bill or credit card debt F m s An Tavin o hic le ie u tar m 2 sgi0 y n s er 2 gp h 4 g Ke o l s en an R 5% p u eCS ec sc p seh y .ti h fM al o e io c ril Mo s al ld io s ts lar u n y as e id s y o y d ked n ip n en an r Yo fesen i d n lu ab ar an r nW g o o c te n o ed u ial rkp -tex m tb ad lh a ip lef ce e ien tviso ar o lR e r sy e vel e e ti r re h c cu o o me an o s u m fe, s n p c eh td o ar Sa 4 er n o 4 ivi ai c n l d n er p g lg er r s an n m e Pl cs ri en a p leg iin n to ar t d ar n io d y vd f ien d vs im n ut g .al is l in R var t ’w s ar o o lh n lr y et i Io - to m Ih u n iar r 15% o tis em o li u e ts aar s n c o eh en en Iy fR fer o A th ar lp o (I d ed in lu o s an d s s ian vi t eh n h tdh iese d uo n at a lg l3 d R ,5 s c e p s o to p o liu an re n er lh me d s m c avin ien n m h an t ave Acco p tg y ac o d en f 28% t u an in m nAm o o t) u en n og - ver er m s hi io ic m lln ap ian to s ar n so iy ey ’n f ff io tn o u an r o cifal Dat 1 a were weighted by age, sex, military status, household incom 5% e, and race/ethnicity. Unweighted sample sizes are 10% 40% Social Security Personal Retirement Savings A Regular Individual A Workplace Retirement 12% h as See no th t e fu al10% ppe ly rec ndi oxver of t ed h is frst om udy itsf o 2r0 t2 h3 e 9% s dr uo rve p. y At de tthae il ss.a A m lse o tse im e e, t hte h e 20s2 u4 r vR ey etial reme so fn otu C no dn tfihdat en m ce an Su yr ve wo y, rker Aps ri lan 20 d2 4 ret , a irtees 10% 10% 21% 21% 10% 9% Military* Non-military Military* Non-military Mil 15% itary Non-military • In they the need mid d olre - nieed ncom ede tg or o hu av pe , m saved ilitar y bh y otu hs e eh tim ole d st h ar ey e m ret oirre e ltio kel liy ve t o c o dm isfao grrtee ablt y hiat n rtet hei irr em ho en usteh tho an ld ’s n o lo nn -m g-itlier tar my 10% 20% 0% 13% 17% 24% 17% Figure 14Pu , 10% Co rchn ase fid a en Pro ce duict n TDo hati n Gg u aa ra n G te oeo s d Mo Jo ntb h ly Pr Inep come ari n fog r LF ife inanciallC y af sh or I tR oet ut i arnem d Pu en t Itt , In b toy An M oitlhit ear r In yve Sst tat meu ns t oan r Sa dvi In ngc s o Acco meu ......... nt 16 Figure 35,20% Percentage Who Have Ever Perosro In nval es ly tm S eaved nts, Su Fi fco g hr a u R sre et i3 r Ret em 8 iren emt e,n t bA ycco Mi uln itt ar ory I RA StatuS sa an ving ds P In lan co, m Su ech ..................... as a 29 0%0% 13% 5%0% 20% 40% 60% 10% 0% 20% 20% 13% T at c n h r th et o o oab tei ver u tiited rr s u em eh d tle o s o es u en p o n c l o d s an h c tis 0% f h x f an id ar cC n cu h an ac to rex s o r en nt t c itc ip o es vit es en t e p l y i o es rs fnt o r o w e vid rro an iet s s w r k e id an h r em at w ir n et i iftm o th en ih r r p ey e m ato m at r p i n t ten ran h i o o g ifn tn en 1 ess t k p 1fp % r o er ar rep ir ep o al e m n ar .ar al t ar h at T at e fwo gii o n iim o n n an - n -o s tof h .s c t as it- iral er d valu k sr ad o s oo rr viso ab est tm h le at orim r i m o eiat n rp of d res. rep i o vid al v rem lT e u h h sal o en e en s um s tc tat eh s an ar itve o g o ls i d n trs a ( et F o y h iifr g av o em er u nre re to en r cr ac 30 o tw n k ) sc o .avin er w u In lh n d en ad g ab bse d fo p ac ± iu tlan i to ed 2 n an .s8 , : w 4 p iiin m 4 ter h ve p p cac ter s en htese m t c ten o ag en n te to f How old wereS y oo cial M u whe ed nia yo In uflu re etn ir ce ed rs from your post-military service em 6% ployment? 9% h htaven tps:/’/tw pw rep w.ar ebed ri.o o rg r /d dio dcns’/tdefa prep uar lt-e so fu orrc e ret /rc irsem /20en 24t-.r cs/2024-rcs-release-report.pdf and the associated fact sheets at Figu •r e 48 In Non th -M e ilita hM irg y* ilh ita er ry* -tw Non o in -m co ilita mre y gM ro ilita up ry* s, m Non ilitar -my ilita hro yu 8% s M eh ilita orld y*s ar Non 5% e -m mo ilita re r ylikel Mily ita tro y* be Non co-n mfilid ita en ryt t M hilat ita rt y* h 15% ey Non wi-lm l il hita ave ry C30% ash It out and Sp 21% end It 20% 18% 13% 18% 14% Don't Know* 0% Mutual Funds, CDs, or 12% 401(k), Tax-Deferred Annuity h fin ou an seh cial o E ln d sti s eed . m M ate ilsita (ar d) ry H e o d w if f M er uch I en No t n n com t-h man ile ita Yt rou y hose Po lan f o (M nte h ild ita er ) fo r yh r Ho ous w Y ehoo uNon l Wou ds -tm h ld ilan Co ita ry n ve orn-(m Tho iliug tM ar il ht/ ita y Th rh y* o inu k)s A eh bo out ldNon H s. o w- Lo milita ngr Y y ou • Mil 0% 0% itary-hou Ms ilita eh ryold retir Non ee- m re ilita sp 0% ryonden 10% tM s ilar itare y* 20% more li 30% Non kely -miltita o 40% rs yay th 50% at M t ilh itae ry* 60% y retire 70% d Non ab -m oilu ita 80% tr y when they 0% 0% To buy a Mho ilita m 0% ry e, car, or otNon her lar 10% -mge ilita pu ryrchase 20% Military 30% Non-military 40% Military 50%26%Non-mil60% itary 0% Non-Military 62% 14% 24% Preparing for Variou Milits a rA y rs etpe ireec sts wh o of gaReti ve an a rem ge ne =3nt, 55 by Military Status n o t ex h p oei p t nien r o - m n ret s s ile it its rh ar . em at Am y en p ho r er o tu vid ia s ceh an s e ao s g lrd ar esu usar e w an lm th o o o teed fr ar et h le i e kel l in fU et oy .tS i m tc .o u g e rfo re ien ver n el c o ttln m h y m ey e w en o ah r ftave kin t er m g a tkin en h w ey o ig tu h rs g et an ih gi n r m e, ad ifo i cab vis n an ey io lti r tt c y o h t h tan c o in o g s k vav es er th e ey an to fo tw e rh m iem e ll er A w er m g oen g rer k en c iw cy c an iito es, h r r a et su bp id r et rem d oten fer es en ex s lar tio p s g n ys le an altex e at fim n p io an en , ntc s h s ie e al points for workers, ± 2.8 retirees, and ± C he 3.ck 7 ing for /S m aviilnit gs A ary cc respo ounts,ndents in a similarly sized or ran 40d 3(o b) m , T s hr aift mS pavi le. ng s, Introduction ................................ (and your spouse) Wou................................ ld MNe ilita erd y Each an Emerg................................ ency or Big Expense in 16% (................................ andNon you-rM sp ilita ou rse y /partner) (W .......................... ill/Would) 7 F hitg tp us: re / /1 w5w , w Co 0% .eb nfriid .o en rgc /e ret in ir e Havin ment/ gr e Etn iro em ug en h tM -co on ney fiden to cK eeep -sur ve Up y fo Wi rt s hpe th ce if ic C r oe ssu t oltfs Livi fron m g/ th In e fl2 at 0i2o4n ,su bry vey M.il i tary Status and F igure 36 en , 10% 0% Per o0% ug ch C en atch- m tag on M U M e ey il p Contr ilita ita Wh rtryo yo l ibutions ive Hav ce om Non E Non ver fo R -r m -eq t m ab Per ilil ita uir ita lr ed y s y* ry o t M h nr ial no imum lu yg S haved M o Mu ilil ita t ita t rD r y* h f y iffer o ei rr R en ret et ce B iir rem e Non etween Non men en --m m ttil, il ita year ita brry y y M s T ialtix T h tar an rea y M n M S tm o il il tita at e ita nnt - rru m y yof *si lan itar dy Gh Ten a Non o Non x T u er s- - reh at m m ea il ilio tm ita ita oln d e r ry y nt s ................ . of 30 10% Milita Lerss T y han $35 Non ,00- 0military None of T Mhile ita se ry* Non-military Military* $75,000 orNon Mor -e military Military* Non-military Milita$ ry 35,000–$7Non 4,99-9 military Military Non-military 45% Less Than $35,0041% 0 $35,000–$74,999 16% $75,000 or More plan 0% 20%ned than L e L n ss T eo ss nh T -a h m n a n $ il $ 3it 5 3,0 ar 5,0 0y 0 0- 0household retir $$ 3e 3 55 e ,0 ,0 0 r 0 0 e 0–– s $$ p 77 4 o 4 ,9 ,9 n 99 d 99ents. Among thos$ $ e 7 7 5 w 5,0 ,0 h 0 0o 0 0 o o rret r M M ir o oed rre e earlier than 42% Outside of an IRA or Money Purchase, or Profit- Month in Retirement Retirement Live/How Many Years You (Will/Would) M 0% ilitary 10% Non20% -military 30% Milita 40% ry 50% Non-milita 60% ry 70% Military80% Non 90% -military 100% Mil M itar ilita y*ry NNon on Di-str m -m il ibu itar ilita tio y ry ns (RMDs)M Mil ilitar ita Rot ry y*h and TraN Non dition on--m m ail lilitar itary yWithdrawals Du M M ilil ita itar ry* ry ing With Non N don ra -m - wals B m ilil ita itar rye yfore U as In ad fo.r S viso tt.h h h o ec iei sw rro Is iim n n n so c u u tm o h e cm e h y B e frig u n i ef o itc n u io n ,cr m g re. tease 0% h e i e n A ttrh o let s e ei a si( rrsF em rer s 10% ec ig a u vin es en srhes ar tg i 37 o s p e n r w o ) 20% (i.3 s in lp l1 Ho tec p h p rw e er o ts ever d n ,cu en ex 30% kn cett,o )i1 w w n o 2 lifed t r h m et m ig n 40% o iire, l n e iea tt m ar h p c en s y rh ,ep h tan i,n o ar 50% c an u d o at s m eh id n io e fb n o l at et s g ld r it fs o 60% o er o n u s r ay p s ex r,et t 41% ayin tp tih h rlan er em ey 70% g e at en ex h ar iio g tp e n ,h ec s an n fo fto o 80% d r ts r o iat ex g w w n h p lo iea et fer r ic k h s ian en 90% ter w ttic h ttes d h e hi fey a n fier n ex f iar 1n en rt 0et an e 01 c % i2 r o es ce in m al m b t o en rad et ac nw ttvi h k ar een s s.oe r • Military households with access to a retirement savings plan are more likely to say that they very or somewhat Income ................................................................ Fi Fig gu ure re ................................ 1 36 ................................................. 16 Und Yo eu r 5 A5 reL A ess T b 55 le – th o 59 a S np $ e3 n 60 5 T d,0 o M – 0 p 61 o 0 rn ee py Ho ar62 e f– w o 64 r retir65 e Ym ou e A ntr66 , e( Ha h –a 69 v vin e/d gid t7 h) 0 e y o Re o r O utir (lde o erm y re o nu trNeve spou r Wor s Ye o)u .. S ke .? 30% p de /$ On n7 d5 L ly W ,0 e0 ss T 0 o o rke rh M a dn S o Y rp eo ou ra Co dica uld lly F Fig igu ur re e 34 23 Less Than $35 M ,0 ilita 00ry* Workplace Retire $m 35 e,0 nt00–$74,999 Non-Mil$ ita 75 ry ,00S 0 o ha rr M ing o P relan 2 To p M ail y f len orn h iao ls me or car repairs $35,0 Ge 00 n– X $e 7r4 s,999 16% Baby Boomers De mographics ................................ 0% 10% ................................ 20% 30% 40% ................................ 50% 60% 70% ................................ Spe 80% nd in Retir90% ement ....................... 100% 7 Source: Employee Benefit Research Institute and Greenwald Research Con 202tr 4 ibu Rettio iren ms ent Confidence Su Re rv tir ee y.ment Retirement The datp al an are ned we,i gh the 0% ted to u psi tn hg t ree h e rea U.s So .50% n Csen csu ited s Bb uyr eau bot’s h C m 10 ui0 rlir 0% % te ar nty P an 5% opd u ln at 10% oin on -m Su 0% i15% lir tvey ary- .20% hSoee us F e 25% lh oo old, d Sa 30% r50% esrp ah o35% n , d Men iriam t40% s ar Ke in 45% tgh 10 , at R 0en % thae ey 40% Please note percentages in the figures may 9 not total to 100 percent due to rounding and/or missing categories. Figure 37, Per 0%centage Who Agree They Have Enough Savings to Handle an Emergency Expense, by Military Status and 10% YouL Wan ess T Mil t len W haith n n i$ a inls 3 Re 5,0a 0so 0 n Lifes $ty 35 le Ge ,0 Y 0o n 0u – X E $ e7 n r4 s v,9 isi9 o9 ned Because Y $B o 7u a 5 W b ,0 y B 0 o0 uo o ld orm M Like eo rs re to Leave a iw ex M tn hi ie tla tih h tm h ar e to ih n y f u ei u ed s an tr eh u r fd r0% et o o e So r n l.d i r o t u em h rce t nypes o -:m s en Em ei lp itw t li oar s n h ye a o y e tvin h Be ar h eo M n g e es u s il fh ilen s ti n ( R ar eh F en m sie ig e o as aiu ls ll rch d ir w ts e ar h I nd 4 y o so t9 i th f u). n e to eel o u a t n T s dth h eh h Gave ese at re So a e ln ving d t w h o s an a P ey p ldvs e s P t y r R ic o e .h s e lan sn a ti e ng h s ave trch n a oar g is f Ge e en e 2 ie c 0 Y an 2w n e n o 4 s X o h u R t , e t e o g n d tri h r s = re iar an 2 fm ft ,5 er o e eked n 2 tn h en 1 Co an o t c nt fes h d iidn e e le ntice s n h an a o Su tm s h rv em e ei e ey. h rb er o et su h g w s ar en eh een es Bco ay b lam d y B tes h x . e o o pM on en h m g io le i s tu reac e. ar sseh y h h o o o ld fu s t types, h eh e opld o s tb en u ar tt e ial Figure 13 un dSo er us rce tan : Em dp c loat yeec Be h-nu ep fit Rceo se n at rch rib In u st tiito utn e s an,d r G eq reeu ni wraed ld R m eFi sein ag rch im u re 2u 0m 2 44 Rd 0 eits ire tr mib enu t C tioo nn fids e n( ce R Su MDs) rvey., the difference between Roth and Source: Employee Benefit Resea A rch m Inou stitutnt e 36% andHel Green d wain ld R eSa search vin 20gs 24 Re a tirend men I t Cnv onfid e es nce tm Surv eents y. , Source: EmPe ployerc e Be enn efta it Reg see arch o If nsW tituto e ark nd e Gre rs en wW aldh Reo se aA rch g 2re 024e R eT tire h ma ent t C Pre onfidep nce a ri Sun rveg y. for Retirement SoSo So urce u urce rce : Em :: Em Em plop p ye llo oe ye ye Be e e Be Be nen fn ie te R ffiitte R R se e ea s se rch ea arch rch In s IItn n its s u ttitite tu u a tte e n a d an n G d d re G Ge re re ne w en n aw w lda a R lld de R R se e ea s se rch ea arch rch 20 2 2 20 4 02 2 R 4 4e R R tie re ettim ire re e m m ne te C n ntto C C no fo in d nfe fiid n de ce en n ce ce Su Su Su rve rv rv y.e ey. y. So Sou urce rce:: Em Emp pllo oye yee e Be Ben ne effiitt R Re es se ea arch rch IIn ns sttiittu utte e a an nd d G Gre ree en nw wa alld d R Re es se ea arch rch 2 20 02 24 4 R Re ettiire rem me en ntt C Co on nffiid de en nce ce Su Surv rve ey. y. Military Non-military Military Non-military* Milita Le ry gacy InherNon itance -military* R odgers, cSotu even So So ldu u a rce rce fR f :: o u Em Em rggl d p p llo otes ye ye o e e,r Be Be et J.n n ie e R rffe iio tt; R R be e ets sh r e et er a a rch rch W e ar IIw n ns sr tter iien ttu utte e e, a ac D n nh d dan an G Gre re iel g e en nes w w Ba aac lld d at R R km e et s sh e ean a aei rch rch ,r A 2 2 c0 0o n 2 2m n 4 4 iR R e p e e an ttC iire reh m m y, en e en ns , tt C C u G o oc n n rh ffac iid d e e as e n nce ce C d Su Su ooo rv rv w pe e en y. y.rs,i zS in te gph , can los ieu r Reic , hoarr ds re,o r M gegan anizat ion; Figure 16, Per Souc rce en : Em tag ple oyeo ef Be W neo fir t ker Reses a rch Wh M Inso iltita i tuAg tre y arnee d G re Teh nat wa ldPr Re ep seaar rch in 2g 02 4 fo Rr e tR ireet mein rtem Conen fidet n ce M Su ak rves eNon y. Th -M em ilita rS ytressed, by Military Status Data In c So So ou um rce rce e :: ................................ Em Emp pllo oye yee e Be Ben ne effiitt R Re es se ea arch rch IIn ns sttiitt................................ u utte e a an nd d G Gre ree en nw wa alld d R Re es se ea arch rch 2 20 02 2................................ 4 4 R Re ettiire rem me en ntt C Co on nffiid de en nce ce Su Surv rve ey. y.................................................. 30 Assets and De Soub rce t ................................ : Em 33% ployee Benefit Research Inst................................ itute and Greenwald Research 20................................ 24 Retirement Confidence Survey. .................................................... 9 35% So So So Sou u u urce rce rce rce:::: Em Em Em Emp p p pllllo o o oye ye ye yee e e e Be Be Be Ben n n ne e e effffiiiitttt R R R Re e e es s s se e e ea a a arch rch rch rch IIIIn n n ns s s sttttiiiittttu u u utttte e e e a a a an n n nd d d d G G G Gre re re ree e e en n n nw w w wa a a alllld d d d R R R Re e e es s s se e e ea a a arch rch rch rch 2 2 2 20 0 0 02 2 2 24 4 4 4 R R R Re e e ettttiiiire re re rem m m me e e en n n ntttt C C C Co o o on n n nffffiiiid d d de e e en n n nce ce ce ce Su Su Su Surv rv rv rve e e ey. y. y. y. Source: Employee Benefit Research Institute and Greenw 0% ald Research 5% 2024 Ret10% irement Con15% fidence Surv20% ey. 25% 30% 35% d s th c ef er en in e • • ar ed is io as n s M In t ro( ad it lF tl th en So ia h ig o t e iu us s n o rce t re ln iat o e al :al w w Em i2 s m er i5 t c tpih ) o ic l-l o. ial n i ye tin Ho n ar tl e c ry d io Be y b iw m s vid u nh iev e g te o fin iu o tu er g R ial n fs e ris ,eh s c o s e ,an n u aw t rch o o p h t h ln ,d e o Id -n n sm sti o h f ta ar if tn ia u x er li t-e ve e tm tar en arm neat iy de lc io t G ver e h ar r re m e oiey n u en nl s i w s kel h ter aeh h to ld e ved o u y R o s f e ll t ieh sd kel w o e s a iin o rch h ta ih lh ave d r t d o 2 h e s 0 ro e 2 a m ar 4 d w tU R ro e o al ie .ed rS tfe im s re .an m o ld Ar tikel e o r u y ne m r tf i C o iy n led g o if kel g n u tfth o i r drF e e y et es ex o n ce o tr ie r o c p u em Su es r ts a es rv ig h xen e o o r s y. ee c r w h c tar , o o m tn an ie h cc u e at er c d c su h n t rr b h et rm ei en teh io n rtat em tn g ax ly e c h y en ac ito trted u eat h tts i ey ve s ,i n avin m n g n o ien n eed r c o g tits h s s o t e ts io f h s N r r er n iat n so e ieed n it o a g a n al ed Source: EmployeeEx Benepe fit Rc este earch d IReti nstitute rem and Gree en nt waldA Rge esea o rch f W 2024 R ork etirem e ers, nt Co nby fide nM ce Su ilrv ita ey.ry Status 0% Makes Them Stres by s e M d, il ita byry M Sta ilitatus ry Status and Income 80% 31% The Stock Market Will B 30% e Increasingly You Will Have to Make Substantial Incre 30% asing Cost of Living Will Make It Schouweiler, and Michael Westberry. Integrated Public Use Microdata Series, Current Population Survey: Version 11.0 an an dd t h In ey co h m ad e ................................ a 28% health problem or d................................ is 17% ability. 7% ................................ 19% 10% ................................ 12% 6% 2% .......... 17 T he • li keliIn ho o th de oh f ig cu hrer ren -tw tly o w ino cr okin meg gw rM o itil u h ita p a s ry ,f im nan ilitc ar ial y h ad ou vis seh or oin ldcsr eases are m 29% o wrie th l ikel incy o m toe, b Non e an cd o -M n m ilfita iid liren tyarty th ho at u s th eh ey olw dsil li n h a th ve e Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. s w Gtu iat llar iis m d ti p c oal ac r lR 30% y t eser tshig einr ve, i friet c an a irsem t w del ien ffler tas en th tan h ce o s m fe oirlw ittar h ho e y ar ch ho e ou im c ses eh ar r o tih led dat s o (d6 ro 8 p n a po rer ttn c o er en ver ed t l ap vs to.. o 5 r8 w pier do cw en ed t) .b y such individuals. A description of Retirew t p m o ri ito h e hrav d in try e aw t rsC el aved alat o s nfi ib ve e b f o td yo r e teth h nc r e e et tc iie m ru em rer en ten hey tt nt eed h ret an irs e t h otei fo tr h l in ve ei orn c f-a o m m m ilifilto yar r t ty ab h-an hly o u m in sieh lr itet ar oilr y dem h co oen u us nteh t er th op an ld ar s tM .s .il l ennial non-military households. DescriptionsSo o So ufrce uM rce : iEm :l iEm tar pV lp oly o ye o lat ye e H e Be ilo e Be u n a e ns n fe ieh td f iR t Un R eo s ee lsd p a er rch s a e rch ................................ d icta In Is nts ib ttu itle tu et e a n ad n d G G rere en eCut w nw ala d s t l d R o R es Y ee sa e orch a u ................................ rch r S 2 0 2 p 2 0e 4 2n 4 R d R ein te ire g tire B mm e en e ca tn C t u C ose n ofn id o fie dfn ece nce Su ................................ Su rvHar rv ey. ey. der for You to Save as M ........................ uch 11 Figure 38, Preparing for Various Aspects of Retirement, by Military Status ............................................................... 31 Realistically, at what age do you expect to retire? [datas Th et e ].R M etin irn eeap men ot li sC , o M nN fi:d en IPUM ce S S,u 2 rvey 023 .i s h tcto ps: nd // ud co ted i.or an g/Fi 1 n0u g .al 1 u8 lre y 1 2 b 8 3 y /3 D th 0e 3 0 E.m V1p 1lo .0yee . Benefit Research Institute (EBRI) and Appendix 2: Figure St Tat o wh is att ex ictal ent S doig yonif u agic reean or d cisa e gK ree e wit y h the following statement? higher-income group are more likely to be working with a fiIn nfla an tic oinal advisor than non-m Mio lin tar ey a y s Y hoou us Wan ehotlds (Figure 31). In enough money to care of basic expenses during their retirement than non-military households. 68% 70% military hou In seh toto all, d a sb io su p t r hesen ow mt ued ch b mef ono erye wo co um ldp yar W ou o in r sk g ae yrm y s w o ili ut h ar ( oa g n yd a vs v y eo. a un n r a o sn p go - em u ns = ie l9 i)t5 ar c 8uy rre h no tly us h eh avo el d ins s o av nin m gs an an y dd in im veen stm sieo nn ts s, of financial Figure 17, Confidence in Social Security Continuing to Provide Benefits of at Least Equal Value to Those Received Now, To gauge 25% how workers and retirees feel about their retirement prospects, the RCS has annually asked Americans how • Military-household retireesP ar rep e a rg ine gn fo err rall etir y Fi em pg e o n u s tre m itiv a 4 ke e4 sa yb oo u u fete l ts h te reir ss li ed festyle. Specifically, 80 percent of Figure 15 Retirement ConfPe iden rce ce ................................ ntage of Workers ................................ and Retirees Who ................................ Calculated How................................ Much They .......... 14 Greenwald Research. The 2024 survey of 2,521 Am Fi Fi er g giu u can re res 2 3 w 7 7as conducted online Jan. 2 through Jan. 31, 2024. not including the value of your primary residence or defined benefit plan assets? F 3 igure 1 F ad F Non F Fiig ig ig gd u u u u i-r tm r r r ie o e e e n i3 li50 35 25 ,8 t ar t h ( c y o So o s h n e uo t rce .u w )s :, i Em eh tPr h po ep ilo n lye d car s o e m Be iar nn es g e e fif m to o Rr f e o sr Va $ ee a3 rch 5 r liikel ,o I0 nu s0 ts y i0 t u As tte o o ar p n h m dec av Go t re e s ree no c war o fa n lR de c R et er m esir e n oe a r rch m a eb en 2 lo i0kel u 2t 4t, R y an b e y tt ire o M i m m s eia ln p iy tt ac C ar o th nty f ey it dS o en t ce at w th i Su u ei lls rv ru ................................ es ry. et e ia r em finen ant c ifal ro ad m viso the ri n .................... in cr t easin he fugt u cro es t 32 of Figure 2 Assets in th So is ufi rce gu : Em rep ld oye o n e Be ot n i en fitc Rle u sde earch th In e stva itute lu ae ndo Gf t reeh nei warl h d Ro eme Fi sFi Fi eag rch g s gu u u o 2re re r 0re 2an 4 5 3 R1 y e5 3 tidefi remen nted Conben fidence ef i Su t pl rvean y. assets. at titudes an by dM ac ilit tiar vit y ies Stat an ud s r an etd ir e In mcen om t e p r ................................ eparations. Figure ................................ 20 ................................................ 18 Fig W Fi u o F Fi rre g k ig g eu ru u 5 s re n re r 4e = (c 5 1 2 ,2 7 83 o 55 nt.) Figure 49 confident they are thatFo thur M ey and os tht ei Cite r spo d usRea e wils l on have sFi Fi for Re en g ng u o =u 2 u re ,2 re g9 h4 4 tirin 2 m 75 oney g Ea to lrlie ive c r oTh mfo arn tab Pla ly tnn hroe ud, ghout their retirement 20% Fig Fu ig re u r 3e 0 10 military retirees say their lifestyle is what they expected or better before they retired, and 71 percent say they Confidence in Having Enough Money to Keep Up With the Cost of F iguAl re l r14 esp ondentsPe wer rce Nee e ag nta d es to ge 25 Sa Wh orv oe o ld fo er A.r Reti gre The es T u rem rhe vey y e Fi Fi int, n Hav g gu clu u re re by de e d En 3 42 M 2 1,il 2 ou ita 55gh ry wo rSta Sa kerv stus in an gs d a 1 nd to ,26 6 Han In rc etom idl rees e e ,a w nith an Percentage Who Agree They Have th Fi Fi Fi eg g g Righ u u u re re re 1 5 3 t Ed 8 2 9 58% ucational and Support Resources t lih vin ang t m hoakin se60% w 0% gi tih t h in ar co dm 10% eres f Und o ro f e t h rl 6 e es 0 m 20% s tth oan s60 ave $ –3 61 30% 5 as ,0 0 m 0u .62 cThe h– 40% 64 m o nn oe ny -m 65 ais 50% li ttar hey y 66 h w o –an u 69 60% seh t an old d 7 sh 0 w avin o70% rit O hlde gi ntrc o *o m make 80% es Neve o s f u $b r7 Re s5t, 90% an tir 00 et0 ial o c r um t1 so 0 r 0 to e % tar hei e rm ore Financial Background, Priorities,Dem and Co og nrap cernhi s................................ c Breakdowns, by ................................ Military Status ........................................ 20 Pe Conf Drce istr nta id ib eu ge nc tio e Wh n in o Ha o f Hav Pva in ye g Ev GEno ra ed r e ug Pe s h f rso o M r on na the e lly y M to Sa iliT v ta a er k d y e for Re H Care ous tire of ehBas o m ld es nt, ic Debt’s Impact on Ability to Save for Retirement/Live Comfortably in ExConf pecte id d enc Spe e nd in M ing edi vs c. aA re ctua Cont l Spe inuind ngin to g Prov of Reti ide ree Be sne , by fits M il of ita ary t L Sta eastus t 4 Ex Pete T rce op nt nta Si of D x ge Ex Pe i s M tpe of rce os rib c Em t u nta te V ta d ipl o ge lu or Curren n oy a o Wh bl efd e R o Im W eA tork prov igre rt eSou m ee rs e e T m n rce Wh ha te nts S t s o y Reti of s A to tre e In rem m Reti c O om f ffe o erem r nt red e M (ne Sa ie la nt iv tt Re a in m Sa ry gs a tire v jo H in Is o r/m m gs u Not e sin nt Pl eh or a Sa a ons ls d v ou , in sarce gs s ), years. Americans with higher incomes are Sm tron orge ly A liby k gr el ee y M to il ita b Se om ry cew o nSta ha fid t A en tus grtee abouD t is hag avin reeg enough income in retirement, and Figure 39, Prep Pe ar rce ing nta Conc for ge Clai e m Wh rn ing of o oW fV Sa ork oriou cial W Ss ec ith Sc ur o ite y r Th na Ben rios ef inik ts Im ,Th by pa e M yc i liW tin taril y g l S W Reti tat ork usrem ................................ With ent aFi Profe nanc se ss io , ........................ nal 32 See https://www.federalpay.org/military for information on the definitions of these pay grades. ar 15% e having the lifestyle Li tv hey in g/ had In fla envisi tioon, ned by . N M onil -m ita iliry tar y Sta rettus irees ahnd ave In sim com ilar e feelings about their lifestyle in • o verM saim lPe itar plrce e y o hfonta u 8s 2eh 9ge roeld s Wh p s oar nd o e Reti en m Th tosr in rem e fr o lk ikel m Th e m y nt it e lo ity A ar h W ge a y ve h il o o l a uW f Re s reh es ork p oo ltire dn sW d ( en e 3 ith 3 s t 0 , a a by g wes Profe o rker M 75il so ita r an s os ry d ld io 4 er Sta 9 na .9 rl tus et Fi irna ees) nc . D ia at l a Aar dv e is wei or ghted by Figur • • •e 18 P In Non Non , e Co trh - - ce n m m e fliin io d lliit t tw en Conf ar ar aer g c y ye e -h h i n io o o n c id u u o fM s s m e T eh eh ed Em nc e ho o o ig c lld d e s r ar e o s s e in u e rge ar c p Wh u C M ,e r o rm nc n m en e o tilo idi i n tty S r lar u y e c a iEx n y c lv a io g kel h e re n pe o td to y r u i Cont s b fPr ns to eh h uo an r tio e vi n R l ,g d d m in e s by e tt io lar iui B ir t en ar a e e M ng me ry m ef et il h o ita iit to o r n rse e u tm o ry s Prov la eh fien kel n at Sta o d t y l Lea d sH tavin s id o tus a t se o s v tay Be g e s E s ay a q T tp nd u h a ne lal tat an k h e at Va In t fits n h ar tey l c u h e aom e e m of ( L y too o o ar r r e a a T e te h n t L h lei c io kel o o s re n e rsa y cp W R er s o tec o t u int s ed ei s h e) ad ved y trh h ta ave h at w N at o a h w tlo o hu r ,e sd b y in y id d g o to Hav Hel e yop u Prep (W or y ith oua r th s ring po e u sM efor )a trjo ied Cla r to Hea fim igurlth in e og u a t h o nd o f w So m Fi uc na ch ia m nc l oSe nia eyc l yu Ev ou rit wi ey ll nts n Be ee, dn t by e o h fi a M ts veil , sita by avery dM b y Sta il tita he t tus ry im eSta y a ond u tus re tIn ir12% ec so om thae t 52% K s lip kel ey en y fd in tio n d g is n ay b gec s < t $ar h au 1ey ,0 e: s 0e 0w oilfl$ i1 u n ,0 sfe l0at 0 a –io $f9 n in ,9 ( an 9F 9ic giu al $r1 e ad 0,0 2vis 5 00 ( –o c $r o 2 n 4 in ,9 t .9 ) th 9 ).e H f $o u 2w t 5u ,0 e r0 e ve 0– trh $, 4 an ap 9,9 p m 9r 9io lix tar i$m 5y 0at ,0 hel 0o 0y u –s $teh 9 w 9o ,9 o-9 ltd 9 hsi rd ($ F s 1i g 0o 0 u f,0 rb e 0o 0 32 – th $2 ). h 4 9 o,9 u9 s9 eh * ol$d 2 5t0 ypes ,000+ have Expenses During Reti by M Reti rem ilita rem ent, ry e Sta by nt, tus M by ilita a M nd ry ilita In Sta ry com tus Sta etus and Income Equal V Pla alu n ea to ndTh the os Pe e Rec rcenta eive ge d Now Who, Pa byrtic Milip ita ary te Sta Whe tus n 50% Offere and Gd e,neration 10So 0% urce: Emp Priority loyee Benefit RRel esearch ativ Instie tu to te and Curr Gree10% nwby e aldnt RM esNee eil arch ita 2ds 0ry 24 R ,Sta eby tirem tus e M nt il Coita nfidery nce Sta Survey. tus and Inc10% ome Experience With Financial Ser Ran vicek s e Co d m by pan Th iesos ane d O Em ffe plo red yers a ................................ Plan, by Military ................................ Status ................. 23 this holds true for both m Fi ilina tary nc an ia d l nA on dv -m is ilior tary or Re hby ous M eh pre ili old tary s s e (nta F ig Status utiv re 12 e,). by H oM wever ilita,ry m iSta litary tus households in the upper two • In the higher-two income groups, militar Wh ya th [o isu /w seh as]o yld ou s r ar pae y g m 2ro ad re e ?likely to be confident that they are doing/did a retirement. Did you retire earlier than you planned because…? M yoiu li tcar an y liv St eat c or Re o um s fan ortd a pre b In ly c in s o r e m enta te ir ................................ emtiv ente ? / in To th pree pa Fu re fo ture r re................................ tir,em by en tM , dil idita youry (o rSta yourtus ................................ spo ua snd e) tr yIn toc fig om uree out h..................... ow much 18 5 age,n c p s o er o Wh 50% ex s t s tkn s ,o o m n ro ial T s iw liiln o ty ar g w o s h y w a k at ve( a isllt at L tid m hu ) ey o p san a ac , w n hy to , i ltm lu a hd sn ei o eh on E r w ey o ra et lid t rh f ily o ri n em t rh cr W o e et en m m it ire th em o ., d nan ey r en a d w ti n rtac a h tl, h an e/ o ei et rn r a r o het n n Ha - iic rm em itiy. lritd en ar s y th sh ip avin o u D seh g is st op rlib d lan su . t w io hen n, b thy ey M ril et it ira e ry th S an t a th tu eis r 10% Equal Value to Those Ho Rec w oe ldiv we erd e yNow ou whe , nby yo uM reil tirita ed? ry Status and Income c F o iS gn ee ucrer eh n t4t 0 p th s: , at E //x w p th w ec e w ts ed .t uo s c aa R k Ho et .m c S w io r e ar em m c rv o k / ic n iet en n e fid et m b te/ ec e n Ag w m t c o a b / e rm e ad e ro y s in f vi w o g Wo u ch ei(o n a - j mi r n co k d rin er easin l y ite o ar s d u , a y rb - f s g r y tp e ese ly o rM u 2v i0 s rlo i0 e ve tl6 )ar at , a -c b b y ilo u o e S mp tu b an t t at e th o fd o u e n r s e u f e o n ................................ n J lltp a o -n su r wi ed ua n rvi r g iy c v a t2 o ab s0 p r1 -e l8 ben e c , th w ra e efi id la ll t tth ie -m e p d c lp tan o h ac o r................................ e ic fto tir e trh o e m ei m f o s e r t n ra re tet y ?in in ir g fo em rm en atti.o n o......... n the 33 To what e by xt eM nt il do ita yory u a gSta ree otus r dis aa gnd ree wi In thc tom he foe llowing? n=722 To what extent do you agree or disagree with the following statement? How confident are you (andRet you irre s dp e o au rs lie e) r a th ba on u tp tla he n n fo ed llo , n wi =n 6g 41 aspect related to retirement? incom • e gNon roup -m s i(l$ it3 ar 5y ,0 h 0o 0u –s$eh 74o,l9 d9 s9 ar an e d m $ o7 re 5 ,l0 ikel 00 yo t ro m hoav rFi e) e g a au rre re esp m 2 o o8 rne den likel t y ag tes o b 2 e5 c –o 3n 4f,i d3en 5–t4 i4 n, tan hei dr 4 ret 5–ir 54. em ent prospects go 1o 00 d% jo mb o n o efy p yr oep u n ar ee in d Co g ed f m tin op h an aa rc v ee id al s wi layv t e fh o d b rwh t yh ta ei hte ry t o r im et ue i y e rem x op ue en rc et tir e t e d td h wh an so e tn h no a y tn y o -o m uu i flc ir it os ar utld y r l eh iv tir o ee u c d s oeh , m wo fo olru d ta ld sb. ly in retirement? R C So o eur nc tirc lus ee es ion E o x f p I D e nc oc yt oo a um t cu ions wi re rt Ho en h in tw th ly H e c o an l wo R o w co en ge c rad k wit e c t rn y n ir fE e t id rd h e a x en , d a m if p it tp io ae ar re to n a e y r fnt a es ll il Ret e , o rsio a e u nc rt e ir ir tn h e e y al at e e m os u t f e s in wh h n a e M t an b s o ocia y u g ed s ta t e l a e v ica a m ec d a r h v o e n iso ro a sy jo f t g rst in h o ee em t n r f r h = o e ep 1 will ll Ble ,1 o r5 es wi 7co n en n d g n e t p t d at in Re o iv u te e? e n tir tt o ia n e m = p l 2,5 s re o c n v e 21 tid n S a , P e y rs io er te sce m ( nBR tagS e ).Yes 90% Finan • cialM Ad ilvic itar e y an hd o u Ad se viso hor ld s s ................................ Y o ar u e wi m ll 42% ho ar ve e e li nk oe ug ly h m to o n ................................ h eav y toe k w eeid p uo pw we ith d tan he c d o ................................ s m t o ar f lr ivie ind g/i r ne fla stp ioo nnden................................ ts than non-military 25 military-household counterparts. You 24% have the right educational and support resources to help with the major health and financia 41% l different SB 5% P options. You feel you have enough savings to handle an emergency or sudden large expense To what extent do you agree or disagree with the following statement? Do yY oo uu t w hin ilH l kh o ya w co o vu e wi en nll fo id w uen g oh rtk m ar w o e y it nh eo a yu p t o tr h t o at a fe k t s e h s c e M io ar ne ed a o l f ica fin ya o rn e uc r sy ia bst l aa s em d icv e is will xo pre o co nrs n r ee t sin p d ru e ue s rin e to n g tp y ar to iv ou v er id in re e ttir he em fu etn utre? Which retirement sys2% tem [do you currently / did you] use? Figure 19, Confidenc Do e y in o uS to hc in ial k yS oec u wi ur llit w 29% y oC rk o w nt itih n a ui p nrg o ft eo s sPr ioo na vid l fin e aB nen ciae l a fid ts vis oofr at or Leas repres t eE nq tau tiv ale Va in l tu he e f t uo tu T reh ?ose Received Now, Military ho Du os es eh yo ou ld r s cu ap rren pear y t o em u tp s o lo a b b y e yn I e er m te h o b p fe it a et fs fc fer o tt o in er ll fy g a o o t p wi u y lr o e a r ep n a us r g et tar r e e a irt q ed r em ir e ue a m h en l f no ig v e =ta r n 2,3 sa h lu tr ? eet e 74 v rNet in tio o , P rg e r t V l s p m h er o e ece en r b we lan y/S e ntn r t t o ag e an h f m fo at it e e r d s al wh Y y r es m e lo o a c u o ws te r iv Co n ee o y n d c o w c o u b e n t y trh o f r ni m a e d en d ten ir ak , y e nt e o e = s u 2 ico n ,5 t o e n t 2 d x h t1 r a p ei ib ye ? u rc ttr io e et n di s f ? rem rom en yt o u prr sa oslar pec y,ts. Percenta Not includingge T S oo wh cWho ia al tS ee xc tu e Fe n rit t y d el o o r y e The om u p alo gy ry e eD er -oo prr d oN v is id ot ag ed re K m e 31% now o wi nte hy t , h h e Who a f vo ell y oo wi uto G n (o gr ? yoo to ur spofor use) than non-military households. There are no difference 33% s in n = c2 o ,5 n2f1 idence between the two household types among those in F F Fiig ig gu u urr r ee e 4 2 38 15 , 40% Wo (co r Tker n ot wh .s ) Ad at j eu xstt ein ng M t (T d ao ar rita y go T et o u l p R Sta e rx et ep pia e rtus re c em t f o e en ra rc e th tAg ir o ef m e te h S ne itn , f(c o he ll a v o Je an wi /dn id ug ar ) y ty o o u 1 b (,e o 2 r/ y 0 is o 2u e 3r, a sb c py h o uM o sfe i lt )i.. t har .? e y foS lltoat wi un sg ................................ ) a source . 34 Debt is negatively im n= p2 ac ,5t2 in e1 v g , e P n yo e ts ru c ire n ab n y ta o ilit g u Fi e r y li S g tf o te u r o o sa re nrve g a ly 2 lo f o 1 ov r re r S d et o o ir m n em e ewh 's en la if tt/liv e Ag e re co em Hea fortab lth ly in Sta retirtus ement. Ap M Wh ilp it en rar o x yai-m shked o at uel s eh h y on o w iln d te h r esp ei inr 1o o 0v n er m den al ilitlt ar s li fy ar est an e yle m d o nirn o e nrl-et im kel irile y itm ar to en y bh te o nm u osw al eh e co ,o lWh m dsp ar w ite, h eo s an p wld an it h o lth d oo er w ret . tT ih rh e ey eo s e r ex h hp a oec ve ust eh ed ret o iilt rd etsd o ar ex be e p m b ec ef otr o e tro e l io kel th r ey d yo t r o ret ec hir ave ei ed ve , ho90% useholds. They are also more likely n= 1 to ,5 8h 0, av Pee rn c = m e7 n2 ale ta 2ge an Yesd White respondents. The share of military- Which of the following, if any, wou nld =2,5 b21 e the most valuable improvements 80% Under 6b 0e Tn h eo fit se s n oo f t a t c l u era re sn t t ely q u w ao l r vk ain lug e w to it t h h a en b a ed ne vis fito 65 sr r n ec =1 eiv ,5e 8d 0 , b Pe y r re cte ir ne te as g e to Y d ea sy7 ?0 or Older such as a 401(k), tax-deferred 60 an– n61* uity or 403(b62 ), 4 –5 64* 7, or thrift savings plan?66 E– m 69 ployed full or part time41% n=1,011 Savings and Preparations ................................................................ n=2,521 ...................................................................... 28 6 b0% y Military Status and Generation ................................ Retirees n=1,2................................ 66 ........................................... 19 • Non-miliW tar hp ic y e h rh s o o ofn u ta h slleh ey f Ret s o o a lllir v d oe e wi sd m ar n a e g n n e h y t a m s m v ao e o vn in r ye e o g y u s l if kel o t is a r k r ne y e o n ttt ir fo a e r p o m h m re av io y nr to e it ?u y /e r r No m r ee la tp tir tl in iv e om c yed elu e to n d t tin s h an g e a vd S cin u ou r g crn ia s e p em n l tS la n e n p e c? e lu o P d rye it s le y o a d o fs r m e r e es y s m f ep p a leo m lo cn t il y d y a e.ll ren - t pht ra o st, v a id w peh p dly ile . military De Figu src er 15 ip tions of Military Households P e rceFi nta gu gn e= re Y 2e ,5 s46 2 , 1 n=2,521 Ho Th we ever sou,r cte hs ey off se tirled l have as c h to o in ces avig we at re e o ch nan line ge res s io nu trh ces eir acnar d e rer esea s fo rcrh t h yo eu h d ig oh o s nh y ar oe urw oh wo n ;s e fa pmi arlat y e anbd f efo rir en e ds m; il ia tar pe y rsonal, the lower- 8M i0n % ac ro ried m*e groE1 u Yo p – u E4 ( clGo es ould s o a th d ffan o rF d ti$ o n o 3 r fa V 5 e S in tir e ,n ing 0 re c y Co c 0 e o le, 0 im a a ) Ne rn . li l e fid e S A rin ve t p en d h n ec r r= a M tv e 2 ni,5 t y if air c ir2 c o re e 1 ied u al S m , p , o lP y, * la m e by en n e r89 c n wha t? e eM n d Net tp t ail er Con gita e c M Dis en fid a ry e jo t a n g o r tSta r/M fe e m iniNot tus lo itrar Co Sy o a n u h nd fid ro cu e e n sIn tehc oom lds w eith 35% incomes41% of $75,000 or 49% Figure 51 90% S tDe m h oie lcitim h al ar ig y S o h -ec est h g ou r 90% u rap ls ie teh y vel hic io n lc o dPe o f s r m a et s rce eis ret iees n s nta r et aar n irge d e e m las es en Wh sli t kel l,ik o w el y iA y ta hs re t o m n c o iConf lo in tn ar -m sy id iler ih id to ar u d e ys eb nt -eh hto n o in = u a l2s d ,5 p T eh sr 2 o m 1 he oblo d le r ir e m ret lA .i kel iAs rbi ees y li f ar tty o to a ex to s s ay p th ec Choo e th ts at ter h ivic tsh s ei at e er s 9 the o p 4ver ec p ier fal Righ icc l at en lifio est t n tc o yl am m e p o in ar n g red et th ir w e em ithen 89 t househ Militar old y respondenttA o sr e w y o yh o uo u r ar c re ue r tr ir ew e nm tid lye o c n w o ted n s tr a ib v is u in t1 in g4 s g m p per la on c n e en ? y ( tto P an t le ha e d r s m e et ir s ar e em r le ied e c ntt s a resp ll a vtin ho a gn s t p d aen p lap ntly ? s .)make up 66 percent, 15% M 12% ilitary 11% 23% 10% Non 75% -Milita 22% ry 8% Very Confident Somewhat Confident Not Confident Saved fm oro rn ee tir y, ed m id e y nto a un (d o r h y av oe u t r a sk pe o n u a s l eo ) a pn e o rsr o w na itll hy d n s r= a a 2 wa v ,5 e2 a l 1 fn ro y m m t o h n ee ir y E wo f xce orr r ll ke e ptn la ir t/e c V m e e r e ry G e nttir b o ee o m f do er ne t s yGo o au vin o rd e gts ir p ed la F? a n ir n / = P3 o4 o8 r Figure 42, Retirement Age of Retirees, by Military Status ........................................................................................ 34 80% 84% 40% ho Diu 70% vo seh rceo d o ldrs S ar epe arm ateo dr *e likely to V Not er ha y C M ve a on rr rfiden iet edi, red L tivi nrg esp Wi Som th on ew Pd aha en rtn t C e ts ron . fident Not Confident • • M Non ilit- ar m y ilih tar ouys eh hoo uls deh s ar ole dsm ar oe rem lS ikel o trr oe ny gl ly A ito kel g sy ray et eh tan hat m t Sih loiey t m ar e wha y h ave ht oA u gs trh eh eo eu *og ldhst /tdid o Dis sa ay tgh r e it n eh k *at ab th oe uy t h ar oe w c m on uccer h n m ed on ab eyo tu ot an pr ret oifress emien ont al 30% , w fin han ich c Soc ial in a vo Hig d ia lvi h ves el s ro T Se rkn h ;a yo c no Ex urity w urip n emp eg c te w Ben dlh oat yer t P e o o A la fits brd n o io u n t t fo o w tCla h r r ietm e S h tat ir aim tm e h io e ei o n a in r r y s E h rg o et a u xp v A i r e r eem ec ge cte re ei d en t o ir ve e tf Re d a s tavin n w L=2, owe o tire rg 4 k rs 3 T ; 7 e as h repr as n t, Ex h esen by ey pe csM t te w at dil iitve c ita hs c ry fNot ar ro eer m Sta Ap ys po li .tus u ca T r w b hle ey or k rpl ep ao cr et being Retirement Age .................................................................................................................................................... 33 m Hal or fe ( 4 ar 9e p 40% c er oc nen fidten ) o t ft h th at e m thiey litar wy illh h o Tav o u s wh e eh en at o ex lo du s ten gar h t e d m oaf o yn f oiey l uiat ag ed th ree r o w o uirg t d h h isa o th u g e tr ee tAr h ei wit mry hr t et (h Fe f iirgem u ollo re en win 7) t,.g c F ?o um rtp har ered mo w re, it h62 81 p er per cen cen t to fo fm nilo itn ar -y Offe Erm edp a lo n e ye m rp o lo ff ye er rs -s p ao rn esto irre em d re en tir t es m ae vn in t s ga sv in pla gs n p n la =77 n n= 3773 Figure 20, Confidence In in v e Ms ed tm icar ents e Co n for T tinuinhe g tir o Pr Situ ovid ae tio Ben n,ef by its o M f il atita Lea ry s tSta Equtus al Va a lu nd e t I o nc Thom ose e Received Now, by O ir p s espo er fab A cen m on u er td t en o itch fan t 60% e n s o sw h n ao - h m m u oe s i eh ltias h tar e o m lty d hs s ey h el o w ves u ex itsh eh p s an ec o er l td ved ied n s d( iiF vid to i g r to u u ar ral b e e e ag 5 sb 4 er e es )f.vin o T r 2e h n g 5 = r, tee 2 o h 4 ,5 rey 9 - 2o q 1p lu , r d e e P a er rt e rc it rr ,en er c ed e 1s n t 3, t a ar al p at ger s e/ e o , jc u Y w e en s eer x s t p tu e ec ar nid n te er ttm o h 5 e io l0 ir tA ar p d rm er o y y c r h ec en o an u ei ts d ve eh ( F 6i 2 o g in lu d p crs er o e m (c5 F en e 6 ig )itu . n rh T e rave h et 1 ey i)r. em p ar A ay e en m al g it lr i s tad far o ro es y as m co 80% mpared with 4 percent and49% 53 percent, respectively, for non-military-household responden 80% ts. Fifty-five W 10ido 0% wed* Experience With Financial Services Companies and Employers 100 1% 00% E5–E6 76% • In 80% the Thu ep rep we er- re in ch co am nge e s a grto yo uu pr, co m Vm e ilrp iy Co taar ny, y nsu fid ho ch eu n a tseh s do oS wnsizing ld os m ar ewha e ,m t Con ore fid liekel nt y toNot be Co co nfid nfe i28% d nen t t that they will have 77% enough 100% Strongly Agree 4 Somewhat Agree 750% 0% You do not know who to go to for g76% ood financial or retirement planning advice. r etire •men w iM m t45% p i 80% itlp ih lt So an ac ar durt y rce aw pr th :o o Em o v ftu rih p de o s lei om eh ye rr/ eo t T r Be h et lS d ei P ns ie r;r fe w ito r m Ret n h een lo siie n r aem h e t rch ad ave Ien dvi u nse ti s t tc u taved e s o te o avin ah nravin d a Gfg dvi re osr eg nan so r wtet ao rd ld s i r m Rie tn eh m ake sves a ea ten rch p ts tr m 2 o u ar 0en v b 2i 4s e de R tt an s m e gu t ii re o n ti m r al ie dan r eet n ltci C kel iu rc oem t n e s fy i dbas t een o t no ce t ed th s , Su a ei h rv y or ave e n t y. s f hpat o en t rh mu td o hiu e n las g y gh ;h b t / a fi ec did ve nan au ever tcs h ie a i55% n l e o k ft x aken ab ipe nfo rlat tus ta i o o hrn lo o gu w an an rt d u h o sey r i n more knowledgeable about regulations arou75% nd retirement savings plans, but they are also m75% ore likely to have taken a household1 70% s60% 70% 0 h 0% ave pay gradA es t wh of a Et1 a –g Ee 4 d oid r E y5 o– uE6 be ( gF in ig tu or e ta 8 k) e. S N oe car ial ly Se th cr uee rit-yq u re ar tir ter em s e(n 7t1 b p eer necfen it29% st ?) of the military military households wit 33% h t73% hese incomes. For the middle-income group, 72 percent of military household 2% s vs. 61 percent Figure 43,M Silh itar are y o Sft at Ret usir an ees d Wh Gen oer Rat etiio red n ................................ Earlier Than, Later T................................ han, or When Planned................................ ,6% by M3% ilitary Status ................... ................ 19 35 lp o ikel f er Esy 1 o– n to E al 4 s ray o et 50% r iE r th em 5at –E6 en th. tei Am sravin ret onig rgem s to hen re in vet t ve wer as st35% an m ben s et , tt7 er s1 — o p r er s w u cc en oh r s tas e s e tm h pa ar u ntat uex al ed p f ec u bn e td ed fo sr ,, e cw er m ittih liif tin ar cear at yes rlet y oiei r f em g dh ep ten o int s .i1 t 0 ( CD of sb)o , to hr h co hu ec seh kin ogld /s tavin ypes gs h Wo ourskpl ehac olp d eer iR n cet en th irte e o m R f CS en mt i l iin S tar c alvin u yd -h e go s su h Pl so eh an us o s eh l ................................ d o rlesp d cs lo w o su 6% n h re d o , en s oe r r t s r eesp oar rge ao n n m iza 6% dal en tio ................................ e ntan s ar d e7 2 ac p tier vel cen y itn ar the e................................ Wh miliitte ar vs y .o r 48 arp eer vet cen ertan an ...................... sd . Ac 64t ive per m cen ilittar , 37 y 64% 8% (Bef 8% ore you retired,) how confident were/are you (and your spou 15% se)...? • Military househ Moo rel d ins ve ar stm e em nt o oprte io nli skel desi y gt no ed h foa rve afteirn yo co u m rete ire s of $35,000–$74,999, while non-mil29% itary households are m1o 0n 0e %y tT o r ak deep itiona u l Ret p w ire itm he t nh t e S yste cos m t Of ofe f rlievin d ag P n/= lan in 2,5 flat 21i, o Pn e rtch ean Con nta g n tre ibu o Ag ntin -m re ge M ilitoar ney y Whe hous neh Offo elrd es d. 37% 9% If individu 35% al 20% s believe that financial services companies understand how to help them with retirement 14% and financial 190% 00% 46% 10% the media; libraries or comm 44% unity centers; online and social media p M oils ita ts ryor communities; non-pro 44% fit organ 61% izations that focus b w w 90% ec iit l90% 90% lh /au w dro saw e uld ial n c o frc 33% reasin c ou m p y th gt ei h cei r o s r rt et to im irfem e li vin in en g rtet w sia riRe lem vin l m tig en r ake e s e tp ,s l ian an t w h h d ar t o h c d an g aler acv u te fh lo at ei arn e( rt h a n dem g o )e nh - n o m t=1 o w i l s i,m t 1 ave ar 3u 6 y c -h a h s o m 55% u m o sn u eh ey ch o ltm dh o e co y nu ey (n an tas er d p 31% ttar h hei ey tsr. w span o 13% uts . e) would lro espo an onrd w en itthsd w raw hoal se f r m oim lit ar a y ret ser irem vic 68% en e h t ap 36% sl an en.d T ed 9% hu ssep , w ar hat ileed m 8% b ilief tar oy res m erivic litar e y c an ret ip rem ut ien n 68% dtivid , wu hal ile s 2 o4 n p aer bc et en ter t r 60% tet rac ire kd f o frro m the o f non-mil45% it90% ary households are confid 39% ent in their retirem 20% ent prospects. 70% 59% 70% E7I– nE9 your ability to choose the right r 12% etirement products or investments for your situation ac sayin cougn tts h ei 40% — r50% an retd ir em rouen ght25% l y iss as ix iex n 1 p0 ec ex ted pec ort b to et o ter r d an o rd ec aei cve or riespo ncom ne d iin ng r et apirperm oxen im 96% tat frel oy m t w a o reg inu 1 lar 0 sIR ayin A. g In 27% i tc io sn w tro as rste , .n on- responden respec 1 45% 0 t60% s 0 % inctliu vel de y, in fo dr ivi ndounal -m s iw lith ar o yar he ou ac seh tivel old ys s . erving in the U.S. Armed Forces an 90% d individuals who are currently in 60%IM nve ilita strm ye65% nt options that pr 66% ovide guaranteed lif8% etim7% e in 5% co 67% m 14% e after 27% 95% m 645% 70% 0 o 50% % re likely to have incomes 43% of less than $35,000. 38% p F Pl Fiilg g an an u ur r n L e e in o 4 2 g an 4 1 , ,,s m Per Fan o orue d cr en p Wi M eo toag ts h ptd l e e Ci raw Wh m ted a al o y s R Ar s ................................ eas eek 93% e Co o n hs el n ffp io d r fen r R otm et in ir f iiT n nh an gei E crar i al ................................ Ab l ier pilri o tT y fh e ts an os iCh oPl no an aloss n .e ed Ho th 42% , w e b ever y R ................................ M igih l,i tta ar In sy ve igS n s tit at fm icuan en s ................................ tt sp fer orc en ................................ Thtei ag r e Sio tu f at Am ioer n,i c .......... ban y s .. 35 39 42% 34% 28% on serving a specific group or community; social media influencers; Chat30% GPT or other AI tools; DoD O 63% ffice 33% of Financial likel 90% 80% y need to cover health expenses in retirement than non-m 35% ilitary households. 86% retirement, they still face man Yy ouo h f atdh a e hs e n a a =m lth 2,5 e p 21 rio s, P b slem uer es ce o a rn a s tag d tih sa e o V b ser ile ity yw oh r o S oh m ave ewh n ato C t ob neen fiden itn the milit27% ary, such as when to retire, M miilliittar ary y h an ou ds 6 eh po er ldcsen see t m me d to ic al be ly in ret biet red ter ( F fiin gan ure ci al 9) .s h ap yoe u rteh tian re non-military households, given their assets and lower 80% 90% 80% 80% Military 34% 6% 34% 29% 14%11% 10% 5% m Fig iliu tar re y 17 ho40% u seholds who plan to retire or have retired 34% expect to or do receive income from a workplace retirement the Nation 30% al 80% Guard or Res Und er eve r 62but did n62* ot serve in t 63 he –64* U.S. Armed 65 Fo 44% rces. Vet 66– er 69 ans consis 7t0 o of r O in lde divid r uals who report 10% 90% 58% 86% M40% ilitary Status and Income ................................................................ 85% 54% ..................................................... 20 F Fig igu ur re e 52 27 37% 43% 43% 28% disagree th 60% 50% at financial services compan 46% ies understand how to help them with retirement and financial planning (Figure Wi Rea th di n reg ess; ar 35% 40% 40% d o 70% tth oe r o;t a her nd n W1 aso –p W5 nec e t osf o th f es 40% ret e.i rem 5% ent, the share 30% 83% feeling confid59% ent that they will have enough m 40% oney to take care 60% 49% 49% preserving50% retirement a 48% ssets, M an ord e fw uno d rokin r inve g st in m ern et t oir pem tions en ava t.i la F bu lerthermor58% e, military households are 28% less likely to say that Sources of Income in Retirement ................................ 46% ........................................................................................... 41 lWh ikelen iho a osd ked o 60% 10 f 0c ab % on osuid t er exin pg ec d tat eb io t n a s porfo b sp leec mi.f iI cn e a xd pd en itiso e nc tat o eg tho or sie es m , easu the ex res, pec m tat ilit io ar ny s h ar oe u38% sneh oto d ld ifsf er inen thte f o urp eac perh -t w reos p in ec co tim ve e Figur •e 45 M , il M 80% it ilar itar y y hR oet uis re ees’ ho lAg dse 45% ar s o ef m Ret or ire em lik en et ly 35% F r to om h av Pos et -tM hie li th ar ig y h Se er svic t le e vE em lsp o lofym fin en an t ................................ cial assets and less ........... likely t 36 o 50% 37% 55% s Favin igur ge s 2 p lan (73 per 44% cent vs. 66 percen9% t of the military households). 44% 47% h aving served 80% in the U.S. Armed Forces but are no longer in them. The RCS uses these definitions to replicate how the 70% 59% 35% 41% 46% 70% 43% 59% 26 Fig ). uF re or 3 ex 70% 8 35% 80% a (m co pn let, .) r egardless of household type, one-third ofNon tho -M se ilita in ry the lower-income group and one in five of those Service mem 70% 60% bers who joined after 200 45% 6 but before Janu 51% ary 2018 had the choice 56% of s 89% taying with t31% he legac 13% y traditional of their bas 40% ic expenses 65% during their retirement increases with income (Figure 13). Ho 10% wever, in the higher-two income Plan Loans 30% Blen d and ed Re tir W emithd ent Syste ra m w (Bals RS) 7% t 7heir financial needs ar 34% e different fY ro ou m wa th no tes de t oo dfo n so on m- em thing ilita erlse y househo 43% lds, but the retirem 22%ent and health care vehicles for g ex ro pu en ps s e ar b 25% e 35% et 40% m wo een re l itkel he y hto ou b seh e coold ns fi d (en Figtu irne h 5av 7)i.n Hal g en f o ou f g eac h m h ohnoeuy seh to o la ld s tt ype thro u say gh o th uat t r et thiei rem r oen ver t al as l e w xel pen l as se b sei /sn pg en m do inrg e are Figur •e 22 In co , Per n th se id cen h eig rt ag h der e e 72% - bto t w f t o H o o i n b uce soeh m a o e p lr d go s ro b Wh A u lb e p ilm iso ty , tF m o t e h sa iel lan ive t ar T f o h n y rei o eh m r n o 42% eLo - u rg m seeh n nil g ciio - etT slar d er sy m ar h e F o iu m nan soerc h ei al o lild kel Ns ey .ed F to o s rb Ar ty e- ec n o Di in ne fff ier d pen er en c tt en t28% T hth at o an ft h m T eih lS io to ar sc ey i al oh fS oO ec utsh u eh er rit o y lds The offer 30% 35% ed 50% 90% reasons for retiring earlier than planned were you could aff 33% o 31% rd to retire earlier than you planned; you had a 0% 68% Retiree Ex40% pectations and Experiences ................................................................ 32% .................................................... 43 U.S. • •Cen Non In sNon u s 70% t h - B -e m M uilr u iita leau ip trar p y O1 er yd E -h ef – in o O3 ic u no s E em eh s e m o 53% g lid lris toar 2% u w p yh , io n n d o hin av vid -m e uie lal 24% iver ts ar . y Itfa h tken o 11% hu e 35% 66% s r eh a es 7% o l4% p olo d an s n d ar oen re w tm id to h or d es er aw ln ikel oal t y m ar teet h e 36% an m t o h m res e i 35% l ie tliar kel cy ri y th er o to iu a sseh b ay uo t tlth dhat se t o s th p d ey oiu s ag ste or o o ee k f an a th at 45% 50% 44% 26% 11% 26% 27% F inig tu hre e h 4i6 g,h 50% er S 50% 70% o-c in ial co S m ec e ugrritoy up B en dis eag fits r ee Cl ai th m at in fgin Ag ane cial of sR er et vic irees, es co bm y p Man ilitiar esy uS ntd at er usst................................ and how to help them......................... with retirement 36 retirement 70% s 60% ystem or joining the Blended Retirement System (BRS). Thirty-seven percent of the military respondents groups, military houM seh ilitao ry* lds are mo Non re -m likel ilitay ry to be coM n 21% ilfita idren y*t that th Non ey -62% w mililita l h ryave enou Mg ilh ita m ry*oney to Non cover -mil ita bas ryic expenses 430% 060% % 7% h M t T ch o iw ig o ln ien h s tfar e ier •d ten y w y t-h h an ttM 60% w an o Ho i id n o ls 60% i ter e n u var p ar x o s er ved p y eh niec c - o h en m o u B o tils e ed in d u lt ti t s s o t eo tar ,,eh rt h fh 43% e w b e y x m er o y p im t lh li a d h M lo a n iis tla is u an ar i lttar ip is ar t oy ar ec eh n o e sy th y h t fo m o s o ar er l rS d u o ab he ts s o r at 4 eh w e d o ar 0 u m iu l fio s e p f kel u t er l ch er an d eq ret s en y c i nd u en w ico tr tal o In em h m t ilo n h e y c s a o en yo h m a lve im yin kel av uan t re . se m ................................ g y a y T vi s ar h ttc n ave o h e g as r y s e ie ed y w es x ar d ip lar l e fan ec fo r em r o td tm ro h tet w o r e e t iih r d r sec em lo o a ikel s m w ei een e e ve y id n as t t ................................ r o o th es h rave ex h e p b ave p o p e ec n re r id vat ec ver s ten ed aved ei e t. t v sak si.Le n ec g fen s o t s o irn rt a rc ,h et o lw an o m iran hem e .............................. i1 c 0 fh o ren r o p w m w er tar , i c ta trh en o an d p h r r ttaw o ave so d fsu al p t ch ec d tfe o rti o n h fim e at c 21 s hys ave tem $2 w 50 ill, 0c0 o0 n to in r um e otroe pin ro fvid inan e c bien al ef asis ts et o sf, at co m lea ps ar t ed eq u w al it h v al 40 u e per to cten he t b oen f tef he its n o rn ec -m eived ilitar b y yh r oet us ireh ees old to s dhay avin thg an health probl20% em or a disability; there were changes 63%at your company, such as downsizing, closure or reorganization; because 80% 43% 76% 30% • ear t M hiey l30% ilty ar h w y ave ithhod u trh s aw e eh ral o igl d h th s t an ed ar e u th c m ei at o ri r om en al illiikel t ar an y yd -t h o so us u p ay speh o trh o t at lrdes c th o oey u urnc td es er idp/ tar o h at h ve sel . pe s w tiim that th e( e 6% dm ) aj ho ow r h m eal ucth 25% h ian ncd o m fin e an thc ey ial ( even and tth s ei in r respondent does, the household is also included as a military household. The majority of RCS’s military households are 30% 42% 35% 25% 60% 40% produce in retirement 28% an Cod n cfliu ns an ioc ni al ................................ p M lan ilitan ry ing. In addition ................................ to28% s5% ome Americans n................................ ot believing that finan................................ cial services companie ........................... s are able to help 45 20% 40% 4% 44% 13%0% 20% 16% 40% 60% 16% 80% 6% 100% s th ay ant h ne oy n-um 30% se ilittar hey th rad ouis tieh ono al ld rset . A irg em ain en , 40% m t silys itar teym h o an ud seh 7 o pler dsc e inn tt hse ay h itg hh ey 6% er -uts w eo t h ine co Bm RS e , gw ro hu ilp e s1 ar 0 e p er mcoen ret liar kel e yn toot b su er e and (Thoug Yo 54% ht/ u c To hu in ld k) a A ffbo ord ut to H ro ew tir M e e uch arlier tha( nT y ho ou ug 29% pht/ lan Tn he in dk) About How You Calculate 7%(d) How Much Money You knowledge60% 60% of how thO1 ese –O3 benefits interact. 7% 69% 38% h g t var h o uei u ar io r s an eh u ret st o ees o ilrd te Non h s m 30% er m sen -ay M o ta tn il s ita ttsh ks h avin rei lyy tro in e g p x cso p r ep p m en 14% lan e ar s e f,e o s w r far o h lirfie c e, rh et l e 12% s is is u rs em c hth ih g en an as her t an ,e 10% t x an h pan an ec d n t tto ed u h ie t b .y e1 o 6 cru p a rer r en dce 28% en tfliy nted w o 25% o f b r 26% nkin en onef g -m iw t ilio itth rar ta ry 14% ad fh in o itan u iosn c eh al ial o p lad d en s 14% vi sw s io o hn o r . p h Fla an in ve al ,9% lw d y,o h n an er ee s toh e (Figure of changes t nh oiin sn - a m tm hie lo its u ar ki ny ltl.s h r Fo e ifu qu ts yeh -irfed iv oe ld fo p s.er r ycoen urt j o ob f m ori y lito ar uy r shko il26% u ls seh noo lo ldnsg c er o n ma sid tc er 25% h in dg eb jo t b tor equ noti rb emen e a p ts; ro b yo lem u wan , wh ted ile t4o6 d p oer sc oen met t h oifn g Figure 47, 25% Per 50%centB ag ette er49% o ef x pE lam nap tiolo nsyed for w W heo thr eker r yos u aWh re oo n trAr ack e67% wO ith ff yo er ued r a Retirement Savings Plan and the Per 46% 17% centage Who 50% t s 50% h p 40% 40% ei o 50% 70% u r slie) fe w or o u al d lo n ved eed o eac ne'sh l im fe. o n 5% th in retirement and plan(ned) for how they would cover an emergency or big 10% F vet igu er re an 2s3 ( , 62 Per ac cen tive tag M 0% an oe nd eWh y t 7o6 o Wi 20% 7 Ag vet thd rree er aw F an 40% Trh s oat ) m, Y w R oet h u60% i rc irh em pren o(p W 80% ter ilS l/W lavin y oru ep ld) g 1s 0 r O esen 0I % ccu s N pto y Y st ta o h ue Pr r T p io im orp e itu in y lat Rel io(at n an .i dve Non yo t uo r- sp m Cu ioli urtse rar en )y Wou t hN oeed u ld sLeh 19% ikely Ne s,o b ldys M e ar dile itar my ore 25% 30% 25% 30% 22% them with f20% inancial planning, one-third of those in the lower-income group, regardless 16% of household type, disagree with c 4o 5n p fi • er d en cen tNon tt hsey a -m y ar in liei tear td h yo er ih n o g (u F /s id g eh iu dr o a el d g 10) so ar o. de jo m bo at re p likel rep ry ear tit re io n m g h e 28% n av fti sa ne an vs inic gn s ial glle, y fn oe rver th 45% ei -m r ar ret riied rem ren esp t o th nan den tthsei . r non-military counterparts 50% 54% 26% 54% 8% 25% 23% Appendix 1: Methodology ................................ 51% ...................................................................................................... 46 el o am 5ver 1 se; )o . u w Am yo n htel u o t had m h n 20% ey g in t g t h r o ec e s h ch ei ar ar o ve e u es fag eh io sr rto a ee ypi ld s s po c t h al w u at lh se y otb h o h Not as ei ra a ed r ve S n m u o t o rite a lh n it ken e ar s r f al y am ar a ser y lio ly vic an an m e d o e d mbe year r45% iw d in trs h ; o d o tyo rfp aw u s reven we er alvic ,r m e 20% e t o itlih iff n tem ar erret y ed ifh rrem an o ou m e sen eh s ar avin tlo y (lF d riet s g g u ar ifro reme e e r r l5 es et 4 n is tr ( em c pa lio kel n cen ka ty .) t g )t..e o N o ho rave n yo -m u triaken liemp tary l an oyer Figure 54 nPar o 50% n-tm iciiRet lp itat ar ire e y m Wh h eo nt u en S sa eh ving Oo flfs a d er s ed nc do I,n n b ve s23% y id 7% stm M erie lid ntts ar eb in y t S to tat nu os t b an e 10% da Re In ptir rcoo eb m m le ee n m ................................ t . to Cove................................ r Health Expenses in .......... 37 20% 30% 50% ex 15% pense in retirement. 23% Race/Ethnic 43% ity likely to hS a 20% ve t20% 60% atu in sc an om de s In o cfo m les es ................................ than $35,000, while m ................................ ilitary households are ................................ more likely to have in ................................ comes 42% of $35,000– 21 40% 40% 53% 40% There weO4 re ch –O6 anges aG t yo eund r co 40% e m 5% r pany, such as downsizing, 49% the statemen 40% 0% t that they have the right educational and support resources to help with the major health and financial Delving fu 40% rther into the spending of ret Abir iliees, ty to sa d ve espi for t ee m eh rg al 35% ef n ci o efs the retiree households saying that their ex 34% penses are ( FF ig igu u Er rB e eR 14 18 I an 20% ) . d In G frac een t, w 72 al d p er w Ret c oen uirld e t m an lieke nd t 8 to 9 tp her an ck en th t e o f2 m 02il4 it ar RCS y h s op uo sn eh so orld s sw ih no t h he elh pied gh er sh-ap twe o tih n Re icso tir ye m em e ar eg ’nsr t osu up rve s ar y: e Am con er fiid cen an t 30% 51% 49% 10% 32% h ear ino cu ely s neh tw ivio it zlh ed dd 30% sr yo aw are ua t m l ot o h tr ak an e e lit a kel hn ei yea r tnh ro lan yn r - e m m tiirilliem ittar ar en yy c th ; oo u yo unsu teh er had p oar ld a s ts nt,o o w t h eh er xip le wo ec th tr ey k o-rr el ar cu at e rr ed eq enr u teas lal y lryo ec n likel ei ; a ve n yd f tin oo c h ro m ave mie li tit a n aken r y ret ho i ru a es m leh oen an oltds o fr r o o a m n lh y w ,ar y o d o rs u kh rf ip o r Figure 29 40% 19% 21% 37% closure, or reorganization 20% 40% 18% 42% 32% 43% Appendix 22 0 20% : % Figure StM at ilita istriycal Signif Non ican -m cile ita K ryey ................................ M 16% ilitary Non ................................ -military M 16% 15% ilitary ................................ Non-military ........ 46 10% 21% 35% $74,999. 15% In addition, military househo46% 13% lds are more likely to be older and retired. Thirty percent of military households O f th •o se Non wh 40% 50% o - m ret iliitrar ed y fh r 46% o ou m s eh tho e ld m si lar itar e y, mo 3r2e plier kel cen y tto ar he av en e Hi ros llp ed an iin c trh espo e Su nrd vi en votrs . 18% B enef10% it Plan (SBP) (Figure 11). Of the Figure 48, HoIw nve We stme lln R t oet ptiiorn em s then at ptr oS viavin de gug as ra n Pl tean ed liP fear timteic in ip co an met s a ftU ernderstand Certain Features and Regulati15% ons of Retirement events in t10% 15% heir life or a loved one's life (Figure 27). The share disag15% reeing W w hiit te h* thiB sl as ck tateH m isp en anti c* does O th d eec r rease as income Ho higw her ever th,an m 20% So ie lix t uar p rce ec y : Em th ed o plu o,ye sa eh ep Be p or nlo e d fx is tFe i Rm al e m ss at e ao a le rch el hy ave I n M 8 sta 0 itlu e m tp * e er aan ndc y G en re se tim no wi a fl lar dr et Rie ts iies r eee arch t o h 2 o 0n 2u 4 o s R n eh e-tm ire om illd iets nar t, C y r oeg nh fido ar eu nce d sleh e Susrv o s e ld o y.s f ,t ype, such sas ay ex thp ey ecar ted e r ab etlie rem to en spten ad g es that F • •t h uey ndM M sar / iil lCap 30% ie tit ar ar dy o ity ial h no g h G u /o d r su o eh id s u e p o a, h l d g A o s om l o d ar d er se jiin p o m r b io t so h r ee f e ( p lC h irkel o ep ig luy h ar m e tib o n ri g a e t w x fT ip n h o ec an r ead it n c t c ial o o n lm e ryec ed e fo ei lr e) g ve r r,et o B o u ian rrp em ar sk e ( en o $ fc 3 tu A ,5 rm c r,en o 0 er m 0 ti0 lc p y a, ar –r$ ec ed E7 m ei 4 w p vin ,9 o itw 9 hg 9 er 6S 1 an ,o F c piid er d al el $ cS en i7 tec y 5 t u ,In an 0 riv 0 td est y 0 8 as o m 1r a en p m er sto o s cu ,r en e rc)te , of Figure 24, Per 30%centage Who Disagree That Their Military Service Has Pr 42% evented Them From Saving f32% or Retirement, by d p mi ay islt itr ar i(b 5y u 9 pen t ip o10% er n, si 30% c w o en nit a th vs na d/ .l o o 4r an 6 hea p b er ei lc tn h en ben g tt)h an e efio d ts n fe e in n m an ab oc lsed ital li yo kel suu p y t p t o o aken rrtet firro eat m ear ap falim p er rio .ly x io m r at frel ien y d 4s5, p iner clc uen din t g( Fin ighuer reit an 52c ).es (44% 36 percent vs. 25 Figure 39 30% 15% O7–O10 1% you retire 57% 0% Less Than $35,00 41% 0 45% 25% $75,000 or More 30% 0% $35,000–$74,999 30% 31% h vet ave eran res sp o S o 20% favin n td hen e gN tss at Pl ag ian oes ns al ,7 b G 5y uo ar M r d io li lto d ar er r y R , eser S cto at m u ve p sar ................................ s ed wh w o iar the 8 en per rocllen edt io nf t................................ n ho en S -B mP, ili t5 ar 6y ph er oc uen seh t o ar l................................ d es i.n T S hB isP c A, or r3 espo 1 per nd cen s w ............. t iitn h S th Be P B 38 , • In 40% the higher-two income groups, military households are more likely to be confident that the Medicare system iE nn cd reases notes ................................. 15% In particular, only 10 ................................ percent of higher-inco................................ me military household................................ s disagree that they h............................. ave the right 51 23% m an respec o dn F e th IN y e tih vel R soA, hw 20% ar y, Jte ac h oey fo kfn s o ro w B et n n ean - t itm r N eees rt at ,iel i xw tipo ar liw an tny h al h aito n h i,o o n Jr rs u .et eas P. fs oieh rr M ed h ooo n o w l r d ear ( m g F su an ich g iln iu er iCh n r te h co t ese as h m 5an e 8e ) yo .i& n t uF h rc u C ey s o a ro m vi t.h n p ,e er gl M a s w gm n er ro n ilo lc u ed re p e, r. s , .W o M T ver o u hr te ker u stal e w so o c o - ffr t n h A ofm im ird d er en s b o io c ctfa, e h t lh h evel Ne oat uhs is o o eh u n ar w soeh e lid d l o e, otlw ypes d N s er Es F iay n E ar , t e th P h e G al ey Ils o M o ar w , m er e o -hr in avi e clo in kel m g ey • iNon ar nIn ce 30% o c - m o m m m e o i le iirt n ................................ e ar rli y et k h ir e o elu m y sen t eh o to b Yltd o e h u s an h co ar a d n n e a o fm h id ne -o ................................ e m arlth n e il ti p lt iar ikel rn ob y t lem y h h to e o o u ir rs s a ay eh r d ei o t sa tir h ld bat e il si.m t yth ................................ eey nt u psre ofsap m eict ly san th da fn rien n ................................ o dn s -as m il a is tar ou 32% y rc h e o ou f s in efh o ................. o rm ld at s,io b nu fto r n 22 o 10% Military Non-Military percent). 10% Military Non-military Military Non-military Military Non-military Military Non-military 1Non 00% % -Military 31% 10% 27% 12% 14% 29% 6% 8 20% 18% 40% 42% • M10% il20% itary househo5lds are more likely to have White and male respondents. 20% Neither 45% The less20% -t 10% han M- il$ ita3 ry 5,000 inco 45% me group does no55% t p h rod av uce e ia n rs eu tirff eime cien nt t sample size to provide reliable comparisons. and 13 percent in S0% BP C. 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% much higher 10% percentage of retired individuals among 37% the military-household respondents (44 percent vs. 24 percent). wi20% l20% l continue to provide benefits of at least equal value to the benefits received by retirees today than non- educational 5% 30% an Pre dfe s ru No pp t o tor S t a ry esources, compared with 17 percent o Mfi lin tao ryn-military hou 72% seholds. 10% 11% 7% Th t to h e e ex rtet p oec p ir em fto tu o en r w rteas o lr ifk est o f M n oyle il s rita tph r a ytat h y ey im n Non ien rliet tar visi i-r m y em ilo ita an n en red d y tn . c o O 6% on M m n-e m ilp ita ar d ilriiytfed ar fer yw en Non h ito che u - s t m b h e ile e h ita t o w s rly* h d een ar s e re to p M hfo ile ita r r t et h rf y o io ruees rs eh hNon avin w olh d -m g o s il ith ita saken ave rty* hat ac a ret t M lu oilial an r ita ee ly r yo w m r o a ilrit ked w Non ar ity h - - m fd h o il ro r ita a u w p rs y a al eh y ar o in ld e ar the e grouPr • p si,n c as d M riet p if i lal c iifr to e ar em F n riy fe n ien d n an hen ce o tc uc p i s al e ileh n an iG n t o n r h ld o id n is o u s gip n ar c ,tg o hT e an n a . m fR g id m o o oe r w o ie ln d ie t lce ar ijPr kel oy b iis c y h o e, of t o u op U b sr s s S eh ep ay e AA, o rar v ltd h e ian n s at d .g d a tf h im Vo n ey an o ya. n d cg iial d / tly h h a o ive n sce rr ease ievi n t eh s w e w ( ed lit oh ) w itn e hc st e oa m im n e. co o um nt e o fg tr h oei urp S (olc eis al s S tec ha un ri ty 10% Source:Ove Em Bep trlta o ell ye r E e ex xp Be pla e nn n ea fse itti R os/S n es se p fa oe rch r n w d h Iing ne stth ite ur te yo an u H d a G r oe re u o e sn n in w tg r aa E ld ck x Rp e w e sie tn h as rch yo esu 2r024 R S ep tie ren m de ing nt C to on S fidu ep np ce o Su rt o rvre He y. lp Health Care or Dental Figure 49, TSo op u rce Si:x Em M plo oye ste Va Benleu fiab t Relse e aI rch m Ip ns rto ituv tem e anden Gre ts e nt wo a ldR Ret esieraem rch 2en 024t RS ea tire vin meg nts C Pl onfan iden sce , a Su srv R ey. anked by Those O 27% ffered a Plan, by 10% 20% 27% 11% 11% 5% 29% Figure 25, 5% Concern of Various Scenarios Impacting Retirement Financ 24% es, by Military Status ...................................... 22 21% 10% 10% 9 • Non mNon il10% it-ar -m My iillita ih tar o ryu ys eh h 5% oo ulsdeh s. olds are mo 36% re likelry e tit re o m e en xtp sa ec vit n gtso 7% use or are 19% currently using 19% a workplace r 10% etirement savings 5% 10% Source: Employee Benefit Research Institute and Greenwald R19% esearch 2024 Retirema e F nta Cm on ilfy M idene ce m Su be rv rey. 19% Expenses (such as Medicare s r M m et am io liir r te ar em e ly — ikel en - an to ty. 10% d m tT h n h ake an o ey n A t- P h h en m ave ei ro id lr d it s uar n ct m m oy T n o eet -h -h sm ato t l;y u iGu lis ttto eh ar h a re p a y o a n s lte c y d ao e m o w u sfe n f o tra m er kin c o prs ar g ed t W r td is esp tesir o t rck f o ar o ed o s n d ray P d b en ia m it y lh lt ps o er r y o w ve csh rp ed o m en ex en itd F p c in tlar s ec e a s n td t s o cial S td tr o h eb et an ruiet tr p; e p itm r o th e o rey t en F ar br u t o c e m y o s eq avin u al d h u o al b gm ec lsy A e, p au De lil kel an csfin ar e s y e ,, t d t h o b o B ey r u e e to n xw w t ep h fit o iec er tu h or t l d l tar to o lp ig ke w e ran otrok ks lie nfor ave The list $ b 10% oen 3 f p 0% 10% 0% 20% 5ef o ,0 tien t0 at 0 ti) al t.h iS ei m prpr ec (o p ifve lian cal men n ly, ed t8 s ) 9 Y r o et o ff p ue er i wa r 17% rem ed cen nte a en t ds t c o to fag d h m o oe i so c i le ian tm s ar e w dy th 7% e h ing h rave e o e u alse s s eh tfo ho o llu o ld w gsh s w t: /abi idid th liitn ty h cio tn o m k ses ab av e o o u ff o t$ rh 7 e 7% o 5m w ,0er 0 th 0 ge en oag rc im es; eo at r e b et w ar h te e ic r e c ho xtn pl hfey ian den at cltiai o tn m hsat fo r 17% 18% Military Status ................................ 15% ................................................................................................ 6% ....... 38 F igure 3 13% 14% 5% 12% 16% Military-household respond0% ents are m 5% o 10% re likel10% y to be wi15% dowed an20% d married 25% than tho30% se from no 35% n-military 40% households: 14 13% 23% or insurance premiums, 0% 9% 5% Mo M nith lita ly ryIncome for L N ife on ,-military Mil21% itary Fam Nil oy o n-m r ilF ita rien ry ds, IncludiM ng ilitary* Traditional PN eo nn sion -mil P italan ry , 10% Military BeNo ttern e -m xpil la ita na ry tions forM th ilita e in ry vestmeNon nt op-tm io 10 il nita s ry Military Non-military* Milita 28% ry Non-military Inflation iN s o0% o n-n Me il ito arfy the most 52% discussed eco 0% nom48% ic 5% issues 10% in Am 15% erica20% . Over 25% half of 30% both 35% militar40% y and 45% non-m50% ilitary • p Mlian litar as y a h osu osueh rce old os f iar nce om me orie n lrikel etiry em toen say t t h th an at m thiey litar uy se h o nu osneh -po ro ldfs it. organizations that focus on serving a specific 0% 17% p m rFig a het o ulo w eg rir r ce em ur h mu ac as iny en e ves c e h i;s n t i , 0% an h t n 0% m w er cd o ien it m th tan o t e r s o p c yaf e. u ay og u t er h rf lo sa y r t h vi th h ey n o rg ee m s ret e w in o iirl r e lf pr o can u ar o rdu d d r ep o ic nie n ves ai ign r s s tr m o e ( F ten (iirF g em iu tg ro u e en p r e 5 tti ; 3 o 5 ). n i5 ns )ves .t N Ho h Ag otat n men -ai w M p n e ilr iver t,o t a rtvid o yhpt ,es e jiu o e g s ntr s u ea 3 ar th 8s an at o pn pr er teed s 64% c o ar en v ie de lti f n et o o gu fi tm m r ae an irlan itin ked ar tc 11% eed y o-m h th o e lie 16% u fet 15% a ss feh t a im er m o 9% e e ltd ih n b ey r cet et o m w r iret e ee een iaf r e. t er t h e Figure 25 S th o (ey c c 10% o i0% al n w tS .il)ec l, hCo u av rin e ty cen er can n o u o ig fm h V p ar m ac io o tn u tey h s e 14% S tc am oen lio ve ar ui n o cts o tm Ih m ey fopr ac trab ec tiln ei yg ve. t h Rret o u irg eh m oen ut tt h Fiei nan r ret ces, irem by en M t ilc itoar my par Sted atu w s i........................... th 81 percent of 23 0% 0% 0% 0% Military Non-military Military Non-military Militard yeductibles, p Nlus on-m co ilists tary* for 12% 0% Such as an Annuity Inheritances Where the Amount You percent an 0% d 66 percent vs. 4 percent and 53 percent, respectively, while non-military-household respondents are more Military* Non-military Military Non-military* 0% Less Than $35,000 $35,000–$74,999 $75,000 or More Figure 19 Military Non-military Military Non-military Military Non-military The U.S MM ilita ilita . E ryry conomy W Non ilNo l G- n o m -m ilita ilInf ita ry* lat ry ion Will SM tay Mililita ita Hrig ry yh for at Non Non Hou - -m m sing il ilita ita C r ry y osts Will Ris M M e ililita itarry y The U.S. Gover Non Non -m nm -m ilita ilen ita rt M y* ry aking h Fio gu usreh e 5 o0 ld , sCh ino tic hes e l o ow nM er Wh ilita -in rat yco Wi me ll g Breo Non u Dp o - n m ar e ilita eWi rn yo th t c Roet nifrid em M en ilita en t rt yth S at avin 0% they gs Non 5% w Wh il-lm en h 10% ilave ita R ryet 15% en irio nu g 20% g , h b M y m il ita 25% M orn iy* ld ie toy ar cto 30% tyo r o Sk rteep h at 35% Non ou sp s u ita -........................ m 40% p l il vi w ita sits, irty 45% h the cost o 39 f group or com M M M ilm il ita ilitar ita u r M y n ry* y iliita ty ryas a Non s Non No on u -r m - -m m cile il il ita ita itar o ry rfy y infNon orm -m at M il M M ita iil o ilil ita ita rn itar y rrf y y* y or retireNon m N Non en on -m - -t m m ilp il il ita ita itar M lan ril y* rita y ynriy ng than M M Mil il ilita ita n itar o r ry* y n y-militNon ary Non Non N -m h on ilo ita - - -u m m ms ril il il yeh ita ita itar r ro y y ylds. Ability to save on an after-tax basis Receive Is T 28% ypically Based you r •e tire; Non m0% o -m re ilfu itar nd y o M hr ilo ita iu nrs ve y* eh sto ment lds ar o Non e ptm i-o m o n ilrs ita e a rlv yikel ailab y lte o; h b M av e iltita te er ry s avin explan gs aa tNon n iod n -s im nfilves o ita r wh rytme en thtesr y oM fo u il$ ita 1 ar 0 rye 0 o ,0n 0 t 0r– a$ c2 Non k 4w 9-i, m t9 h il9 y ita 9o ry u th r an re tm irem ilitar eny t R h r espo o et uis rees eh nd oen lid n t 0% ts b ype o rt ep hs o ,h rb o tu u ts th eh tat h e otlh d liey kel type d ihid o so w h da o M o ve r ilk fita tfa h ro ye rs ip rm ea ay ilar s o af n sts h er ar f o te r h ey t w ah ki ro n et g siay rted h e t,h m c ei oo rm n rp ey et ar iro ed eu m tw en oiftt h tih s2 No e 8 ab n p p -lo M an er u ilita tc ar en a ryset ex n oo fp ttec h sei itg ed rn in fo io crn an - bm et tly iltier td ar i fan fy erden th t ey their non-militar Ley ss cTh ou an n t $er 35p ,0ar 00ts. For the middle-i $n 3c 5,o 0m 00e –$7 g4r,o 99 u9p, 72 percent of mili$t7 ar 5,y 00h 0 o oru M so eh reolds vs. 61 percent 0% Military* Non-military Military* Non-military Into a Recession in the Next Least the Next 12 Months Significant Changes to the l ikely to be singlCur e, rn ee nver tly Wor mk Wi arried th a P (F riog fe u ssi reo n 2a)l F . M inialintcial A ary-h dvisor ouseh oroT ld h inks resp Wo iln l W den ork Wi ts ar th a e P al ro so fe ssion mora e l F plriina e kel scr ny cial A ipt tion o b d dvisor e rum gs)ale and White. 0% 20% 40% 60% 80% 100% Figure 54 (cont.) on Salary and Years of Figure 26, Per Souc rce en : Em tag p M le o M il ye ita Wh ile Le ita r Be yss ro y n e T B fiha t el Re n ise e $3 ve aNon rch 5,0 Non F In 0 i-n s m 0 - tm an itil uita il te ita c r aiyal n ry d G Co reem nwp alan d M M Riliil e ita e ita se s $35,000 r a ry rch y* Do 2 0N 24 o – R $74,999 t eU tiNon re Non nm deer 0% -n - m m t s C ililt ita oita an nfrir y dy d e2 n 0 ce Ho % Su w rv ety. o M M 4 0Hel il il % ita ita$7 r rp y* y 5T ,00 6h 0e % 0 o mr M Wi Non Non o 8t r0 e h % -- m m R il ilet ita itairr 1r y y 0 e0m %ent and Figure 1, Demographic LB L e Le r ss T eeakd ss T ss T hh a ha n o an n w $ $ 3 $n 3 5 35 s ,0 5,0 ,,0 0 b 0 0 0 0 y 0 Military Status ................................ $ $3 35 5,0 ,00 00 0– –$ $7 74 4,9 ,99 99 9 ................................ $ $ $7 7 75 5 5 ,0 ,0 ,00 0 00 0 0 o o o rrr M M Mo o o ............................. r rre e e 8 living/inflati^o As n ke (F d iog nu ly r oe f t h15 ose) f.ro T M mh L il mi len os ila i tn ai$ nm ry 3 ia5 hp ls o ,0 r uo 0 se 0 ve h– o$ ls d7 s4 w . ,9it 9h 9 income, an E $3 ad 5 rly W ,0 Ge f0 o0 nr ith – X m $ d e 7 rri4 al si,9 wal tar 99y househol$ d7s5,,0 o 0n Har 0l o yB rd M 1 a sh 5 bo ip y B rp eDi er ostr oc m en ibu ert s tio onf those within the Figure 40 Milita Le ry ss Than $3Non 5,00-0 military Milita $r3 y5,000–$74 Non ,999 -military Militar$ y* 75,000 or M Non ore-military savings; more one-on 0% -on 1e, L 2e M pe ss T o10% n rth s ho a sn n al $3 iz 5e ,0 20% d e 00ducati30% on; more 40% online edu 50% cationa 60% l tools; m 70% ore invest $80% 7 A5 m men ,0 e0 ri0 ca o t n o r M Re pt 90% oitir o ren es me dn esi 1 t 0 Sgn 0 yste %ed m for after ar c bo et e uw n hteen avin erp h ar tg o h ts u e th s .h e eh oru o et s ld eh irse.o m ld en s.t they envisioned. $35,000–$74,999 of non-military househo Rep ldsr e ar see n ta co tive nfident in their reti0% remen 5% t pro or 1s R 0p % eec prt es 1 s. 5 e % ntativ 2e 0 in % the 2 F 5% uture 30% 35% 40% Review(ed) the Amount of Your Social Security Benefit at (Thought/Think) About How the Age at Which You Claim Figure 51, Per Souc rce en : Em tag ple oyeWh e Beo n eHav fit Rese eaT rch a ken Institu ta e aL no d an Gre eo nw r aWi ld Rt eh sed ar rch aw 20al 24 F Rr eo tire m m eT nth Cei onrf idR en et cei r Su em rveen y. t Savings Pl Se an rvice , by Military Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% In contrast, non-military-household respondents are more likely to female and Hispanic. There are no differences in the Figure 30 F in So an urce cial : Em Pl plan oyen e Be inn g e,f itb Ry e sM earch ilit ar Insy tit uS tet aat ndu G sre an enwd a ldIn Re cso em arch e 2................................ 024 Retirement Confidence Surv................................ ey. .................... 24 Source: EmployeeL Be ess T nefit h Ra es ne a $rch 35 ,0 In0 st0 itute and Greenwald Research 2024 Retirement Confidence Survey. $75,000 or More So Sou urce rce:: Em Emp pllo oye yeL e ee Be Be ss T n ne effh iitt a R Rn e e s s$ e e3 a arch rch 5,0 II0 n n0 s sttiittu utte e a an nd d G Gre ree en nw wa alld d R Re es se e $a a $ 3 rch rch 3 55 ,0 ,0 2 20 0 00 0 2 20 4 4 –– $ R R $ 7 e e7 4 ttii4 re re ,9 ,9 m m 99 e e 99 n ntt C Co on nffiid de en nce ce Su Surv rve ey. y. $75,000 or More Note: The under $35Y ,0o 0u 0 rin (co Plan me n ge rod u)p Re sam tir pe lem sie ze n t wA ag s e too small to show any S reo licial S able ree su cu ltsr.ity Can Impact the Amount You Receive highest incom Sou e rce g:r Em ou pp lo ye ar e e Ben neo fit t Rc eo sen af rch id en Instit t ut teh aat nd G th reey enww aldi lR l eh seav arch e 2en 024o R u eg tire h mm eno t C n oe ny fidetn o ce keep Survey. up with the cost of living/inflation, you retire; more environmen Less T tallhy an o r $ s 35 o,0 ci0a 0lly responsible inv$ es 35 tmen ,000–t$ o 74 pt ,9io 99 ns available (ESG); $f7 ew 5,0er 00 i o nrv M est ormen e t options So So So Sou u u urce rce rce rce:::: Em Em Em Emp p p pllllo o o oye ye ye yee e e e Be Be Be Ben n n ne e e effffiiiitttt R R R Re e e es s s se e e ea a a arch rch rch rch IIIIn n n ns s s sttttiiiittttu u u utttte e e e a a a an n n nd d d d G G G Gre re re ree e e en n n nw w w wa a a alllld d d d R R R Re e e es s s se e e ea a a arch rch rch rch 2 2 2 20 0 0 02 2 2 24 4 4 4 R R R Re e e ettttiiiire re re rem m m me e e en n n ntttt C C C Co o o on n n nffffiiiid d d de e e en n n nce ce ce ce Su Su Su Surv rv rv rve e e ey. y. y. y. Stat Sou urce s ................................ : Employee Benefit Research Ins................................ titute and Greenwald Research 20 ................................ 24 Retirement Confidence Surve................................ y. ................... 40 Figure 2, DeSo So mu uo rce rce gr :: ap Em Emp ph llo oic ye ye e e B Be Be reakd n ne effiitt R Ro e es sw e ea an rch rch s, IIn nb s sy ttiittu uM tte e i a aln nit d dar G Gre re y e eS n nw w ta a at lld du R Rs e e s s................................ e ea arch rch 2 20 02 24 4 R Re ettiire rem me en ntt C Co on nffiid de en n................................ ce ce Su Surv rve ey. y. ............................. 8 Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. self-reported So So So h u urce rce u eal rce :: Em Em :t h Em p ps llp o ot lye ye oat ye e eu e Be Be s Be n n es e e nffe ii ttf o iR R t R f e e s s er e e sesp a a erch rch arch o IIn n In s s ntts iid tttu u iten ttu e et e a a t n n as d d n d G G b G re re et re e ew n n ew w neen w a alla d dl d R R R e e t s s eh e e sa a ee rch rch a rch t w 2 2 0 0 2o 2 2 04 4 2 h 4 R R o R e etteu iire re tis re m m eh m e en n eo ttn C C tl C d o on n o ffn t iid d fypes. ie e dn n ece ce nce Su Su Su rv rvrv e ey. y. ey. Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. Figure 4 Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. c ompared wSo ith urce 2:7 Em pper loye cen e Be t no effit R th eso es arch e w Ini st tih tu te th an e ds G e reien nc wo alm d Re es se i an rch n 2o 0n 24- m Retiilre itm ar en y t Ch oo nfu ids en eh ce o Su ld rvs e. y. Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. Source: Employee Benefit Research Institute and Greenwald Research 2024 Retirement Confidence Survey. e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eb b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii...................................................o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o or r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rg g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIs s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s ss s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s su u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u ue e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B Bri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri ri riA e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e efffffffffffffffffffffffffffffffffffffffffffffffffff re • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • s e J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J Ja u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u urc llllllllllllllllllllllllllllllllllllllllllllllllllly y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y y h 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 re , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , p 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0rt 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 fr • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • o m N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N No o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o t...................................................h 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 e12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12 EBR I Education and R esearch Fund © 2024 Employee Benefit Research Institute 31 28 24 14 30 17 18 11 25 41 33 47 42 27 26 29 36 22 10 46 45 40 38 21 49 20 43 34 44 23 37 32 13 19 39 35 16 12 50 15 51 48 52 5 3 4 2 9 8 7 6 Non-Military Military Non-Military Military Non-Military Military