A Maddening 401k Financial Wellness Contradiction

401k participant behavior can be somewhat frustrating.

401k participant behavior can be somewhat frustrating.

How’s this for a point of 401k frustration? More Americans are anxiety-ridden about retirement, and plan to do absolutely nothing about it.

A new end-of-year survey from NerdWallet finds retirement was the most commonly cited savings priority, but less than a third of Americans report feeling confident they saved enough in 2016, and another one in three are not currently saving for retirement at all.

The New Year might not see much improvement, according to NerdWallet’s Arielle O’Shea: Of those who have a workplace retirement plan, only 32 percent plan to increase their contribution next year.

Among the key survey findings:

Americans at least seem to know the importance of saving for retirement, putting that goal at the top of their list of savings priorities, O’Shea writes.

“Yet as we near the end of the year, less than a third (29 percent) of those who are currently saving for retirement say they feel confident they have saved enough this year, and only 15 percent intend to max out their employer-sponsored retirement plan for 2016.”

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