Workers’ Response to the Market Crash: Save More, Work More?
In summer 2009, the CRR surveyed individuals ages 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.