The more people save for retirement and are active in their investments, the less confident they are in their retirement security and investment choices, according to a MassMutual Financial Group survey released today. Based on their annual deferral rates of salary into 401(k) savings plans, 44% of those who defer 8% of pay or more were confident in their investment decisions, compared with 54% of those with deferral rates of less than 8%. Also, 79% of high savers wanted information about investments, while only 47% of low to medium savers wanted help.
“The lesson is that some of the traditional assumptions about investment confidence, like deferral rates and active investment decisions, may indicate the exact opposite,” Ian Sheridan, corporate vice president and chief marketing officer for MassMutual’s Retirement Services Division, said in a news release.
The survey was completed by 17,414 participants visiting the MassMutual Retirement website in September and October.
