The Voya Retire Ready Index™ measures the retirement readiness levels of Americans who are both working and recently retired. The study showed how individuals scored on an average basis, while also examining the attributes of those who score as “role models” for financial preparedness.
The Index was designed on the premise that successful retirement preparation requires three important components:
- sufficient knowledge and awareness of how to prepare (“knowing”)
- accurate and comprehensive planning activity (“planning”); and
- adequate savings to generate sufficient income replacement (“having”).
The findings showed how Americans are generally behind in their readiness, and that planning represents their most significant hurdle as well as the area with the most opportunity for improvement. Workers who were surveyed for the Voya Retire Ready Index study averaged a combined score of 4.1 out of ten, while Retirees averaged a 5.5.
Using findings from the Index, Voya created a Paid Post on The New York Times site. This interactive experience identifies four retirement types and shows how Americans responded to nine key retirement planning questions based on the research.
Voya Retire Ready Index Full Infographic
Knowledge Does Not Equal Readiness Infographic
Highest Scorers Do Right Infographic
Retirement Readiness Infographic
Index Scores Infographic
Planning Drives Highest Scores Infographic
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