Workers’ Response to the Market Crash: Save More, Work More?

Courtney MonkKelly Haverstick Steven A. Sass

IB#10-3

In summer 2009, the CRR surveyed individuals age 45-59 on how the market crash has affected their retirement planning.

Key findings from our analysis are:

  • In response to the crisis, over 40 percent expected to work longer/save more.
  • Those who were highly distressed were more likely to act.
  • After receiving “reliable” financial advice, the majority of initial “no changers” decided to work longer/save more.