In the now-booming industry of determining what people think about retirement, another study reaches some conclusions that suggest a general attention to current financial issues and less confidence in the ability to achieve retirement goals:

  1. more people are determined to retire without a home mortgage, and are focusing on paying down those debts.
  2. there is little confidence in the ability of the stock market to increase wealth. Not a shocking view, I suppose, but Warren Buffett might say that’s when it’s a good time to buy.
  3. paying monthly bills is more important than healthcare costs and saving for retirement, even among older people.
  4. 401(k) plans are seen as a good vehicle to save for retirement, but people would like more guidance on investments and more automatic saving provisions.

And although we read about a massive transfer of wealth between generations, that will only occur in some cases; many people have decided to spend their assets on current experiences with family rather than saving for an inheritance.