You might have read, or even heard me say, that we are experiencing a very long bull market. Indeed, it’s the second-longest bull market since World War II – it started in March of 2009 and has continued without a bear market (defined as a decline of 20%) since. Well, yes and no.
In its 28th annual Retirement Confidence Survey, the Employee Benefit Research Institute (EBRI) discovered that 64% of today's workers feel very or somewhat confident in having enough money to retire comfortably, up from 60% in 2017. And although far more retirees are very confident in their retirement prospects than workers, retiree confidence in their ability to meet basic expenses and medical expenses dropped from the previous year. Moreover, both workers and retirees question the role Social Security will play in future retiree income.