They may have the motivation, and even have the money, but morethan a third of American pre-retirees say they're simplyoverwhelmed by the process.
|A new survey conducted by E*Trade in association with HarrisInteractive indicates there are lots of great intentions when itcomes to retirement planning and the basics of investing, but asizeable percentage of American workers are frozen in their trackswhen it comes to getting the process started.
|The survey found that 37% of participants said they'reinterested in working with a professional to help manage theirretirement accounts but don't think that they have enough savingsor investments to justify getting the assistance.
|Some 32% said they have yet to roll over a 401(k) from a formeremployer because they find the process too confusing, intimidatingor time-consuming; 41% said they believe that opening an IRAaccount takes too much time, and 56% said they believe managing anIRA requires more financial know-how than they currently have.
|Opinions (and actions) on 401(k) plans were even more vague: 32%who currently have a 401(k) are not confident it will ever growenough to meet their retirement needs, 28% don't review theirstatements or have difficulty at present to keep track of theiraccount performance, and 21% do not know what fees are beingcharged as part of their 401(k).
|This article was originally posted at BenefitsPro.com, a sister siteof Credit Union Times.
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