Retirement... most of us dream about retiring. But will you have enough money to enjoy a retirement that may span decades? When it comes to preparing, many American households aren't saving enough for the long term. And that may lead to many living out their final years in poverty. Even if you are putting money away, a new survey finds a lot of confusion about investment choices made during the most critical time for retirement savings—the decade that spans the years just before and after retirement known as the retirement red zone.
A new prudential financial survey found that very few know how to manage their investments during the retirement red zone, defined as the last five years of work and the first five years of retirement.
Prudential's study revealed that seven in ten respondents were split about whether it's more risky to invest too conservatively or too aggressively during the red zone.
A complete report of the retirement red zone survey can be found at prudential.com/retirement.
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