While retirment years of life are carefully planned out by many with life insurance policies, savings and more, a study by ING Retirement Research Institute found that 71 percent of Americans lack a formal investment plan to help them reach their retirement goals.
"Most consumers today face a number of competing financial priorities. But one thing they should not lose sight of is the importance of properly preparing for their retirement," said Maliz Beams, CEO of ING U.S. Retirement. "The good news is that more people are becoming aware of what it takes to reach their goals. Our mission is to continue raising awareness, while helping them plan and save so they retire with the dignity and financial security they deserve."
The company said people should start making savings a personal responsibility, enroll in a workplace retirement plan and gain more control over their assets.