This post is part of Smart401k CEO Scott Hollsopple’s contribution to the U.S. News & World Report Smarter Investor blog series. To view the original article, click here. Original post date February 6, 2014.
A recent retirement study got me thinking about the parallels between retirement planning and dieting. BlackRock's 2013 Retirement Survey revealed that apathy about retirement planning is tied to a lack of understanding of retirement needs. According to the findings, “Confusion and lack of clarity around retirement needs has led many participants to inaction ... 45 percent say they are not saving [for retirement] because they don’t know how much they will need.”