Only 19% of workers know when they will be eligible for full Social Security benefits, while 49% think they will be eligible earlier than the actual date (Source: Employee Benefit Research Institute, 2006).
Women age 65 or older have a 44% chance of entering a nursing home at some point in their lives (Source: Journal of Financial Planning, November 2006).
There are 611,000 U.S. households with $1 million or more in investable assets where women are the primary financial decision makers, compared to 3.5 million households where men make the financial decisions (Source: Journal of Financial Planning, November 2006).
Approximately 25% of working adults age 45 and older with a living parent provided financial assistance to the parent. Approximately 80% had an adult child age 25 or older, with 45% of those adults helping to support the child (Source: PlanSponsor.com, 2006).
A recent study found that the average worker needed to save an additional 21.2% of pay every year to accumulate an adequate amount of retirement savings. Individuals under age 25 need to save an additional 3.3%, while those between the ages of 55 and 64 need to save an additional 53.8% (Source: Georgia State University, 2006).