Logica Research conducted an online survey in May of 1,000 U.S. 401(k) participants, who worked for companies with at least 25 employees, currently contributed to their 401(k) plan and were between 25 and 70 years old.
The results of the survey were published by Schwab Retirement Plan Services Monday in the 2018 401(k) Participant Survey.
In order to save your valuable reading time, here is a brief list of the highlights that I think would be of interest to an individual company 401(k) retirement plan participant.
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Survey responses showed that 62% of workers expected their 401(k) to be their largest source of retirement income.
65% of the survey respondents have increased their 401(k) contribution level in the past two years.
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77% of the respondents would fee a higher level of confidence if they had the help of a financial professional and 52% said they would expect better investment performance with professional advice.
71% of the respondents wanted personalized investment advice specific to their 401(k).
Ric Lager
Lager & Company, Inc.