NEW YORK, Sept. 20 (UPI) -- A recent survey found that retirement planning in the United States has gone through a dramatic shift in the past three years.
In 2007, 52 percent of respondents to a Gallup financial survey indicated their 401(k) plans would finance a significant portion of their retirement. Thirty percent of respondents indicated their home equity would provide for at least a portion of their retirement.
Those percentages have dropped to 45 percent and 20 percent, respectively, The Washington Post reported Monday.
John Reutemann Jr., founder and chief executive officer of Research Financial Strategies Inc., said U.S. workers have been "hit with a double whammy" -- watching the value of their stock portfolios or pension plans fall while home prices have also declined.
"Sometimes I feel we're running a financial emergency room," he told the Post.
