New TIAA-CREF Online Poll Shows that Investors Expect to Need Three-Quarters of Working Income in Retirement

Most Don’t Think the Recession Is Over

NEW YORK, April 12, 2010

Investors expect to need just three-quarters of their pre-retirement income once they stop working, according to a new online poll by TIAA-CREF.

Nearly half of investors in TIAA-CREF’s myretirement.org online community say that they’ll need 75 percent of their pre-retirement income in retirement, according to the poll. Nearly a quarter of investors expect to need 90 percent of their pre-retirement income while twenty-one percent think they’ll need all of it.

In a separate poll, 78 percent of investors say that they don’t think the recession is over. Twelve percent think it is, while 9 percent of investors say they’re unsure.

Myretirement.org (www.myretirement.org) is an online community for TIAA-CREF participants who come together to communicate with each other about what retirement means for them. Two online polls were posted on the site between February 3 and February 25, via a “quick poll” feature available to all myretirement.org members. The polls attracted a total of 297 and 371 unique respondents, respectively. Please note, the polls are not conducted as scientific surveys, and do not purport to represent the views of all TIAA-CREF participants, the TIAA-CREF family of companies or the general public.
 

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TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $414 billion in combined assets under management (12/31/09) and the leading provider of retirement services in the academic, research, medical and cultural fields.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.

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