Recently, Bloomberg highlighted a research report on retirement investing that found a large percentage of relatively affluent Americans believe it will take “a miracle” for them to be able to stop working and retire. Part of me was shocked, but the other part understood those feelings on retirement investing.

The Bloomberg article sourced a 2021 Natixis Global Retirement Index report. This excerpt from the article explains the scope of the retirement investing survey:

The firm surveyed people with at least $100,000 in investable assets. Half of the respondents with a net worth of $1 million or more said they were resigned to the fact of having to work longer than they’d anticipated. In the U.S., the 750 survey respondents had a median net worth of $450,000 and had saved on average more than 16% of their salary.

The group was asked how much money they expected to need to retire and be financially secure in retirement, and one multiple-choice answer was “a miracle.” Generational breakdown had 46% of Millennials hoping for a miracle, 45% of Gen Xers, and 30% of Baby Boomers.

While the two younger generations seem not to have not figured out the differences between gambling in the markets and retirement investing just yet, the Baby Boomer number concerns me.

The Boomers were born between 1946 and 1964, putting them 57 to 75 years old. I hope the 30% looking for a miracle with their retirement investing are in the lower third of that age range. This generation has seen retirement funding go from the defined benefit pension plans that were largely available when they started in the workforce to the current situation where most of an individual’s retirement assets are in a 401(k) account, subject to stock market swings. It is understandable to worry about a stable retirement when the stock market crashes once every decade.

Even if someone builds up a nice nest egg in their 401(k) account, the person faces the daunting task, upon retirement, of figuring out how to manage a large, lump-sum of money to make it pay a sufficient retirement income and last for the rest of their life. Every day I communicate with people facing this exact dilemma.

On the flip side, I regularly receive unsolicited testimonials from subscribers to my Dividend Hunter service telling me how using my system has let them solve the challenge of investing for a comfortable and stable retirement income.

The Dividend Hunter service provides a recommended portfolio of high-yield investments that pay an attractive income without counting on share price appreciation. I also include plenty of educational materials to help you set up your own retirement income plan.

If the survey results discussed above struck an uncomfortable note about your retirement planning, spend a few bucks to subscribe to the Dividend Hunter.