What do highest scorers do right? On average

Ready to Retire?
The Voya Retire Ready Index™ assesses how ready working Americans and recent retirees are for retirement.
Over 2,000 workers and retirees were surveyed and Index scores were created that measure readiness on a scale of zero to ten.
What leads to retirement readiness?
Require Most Action
Scoring Key
What do highest scorers do right?
0
2
68% created a complete financial plan
Planning
Having
Highest
Scorers
75% started saving as early as possible
7.4
78% specific strategy for investments
Retirees
Total average Index scores
4
Role Models
6
8
10
Planning sets apart high scores
83% more than $150K in savings
Knowing
Room for Improvement
68%
Created financial plan that
included retirement goals
77%
Discussed retirement
lifestyle a lot with spouse
81%
97% happy with financial security
7%
Created financial plan that
Had relationship with
financial professional
81% relationship with financial
professional
Lowest
Scorers
included retirement goals
16%
Discussed retirement
3.0
lifestyle a lot with spouse
16%
Had relationship with
77% used web-based retirement calculator
Total Score 5.5
99% contributed to workplace retirement plan
Retirees
Knowing
financial professional
85% at least $100K in life insurance coverage
7.0
81% more than $50K in savings
Planning
4.2
Having
75% tried to calculate how much income
they will need to replace in retirement
5.3
0
82% specific strategy for investments
Workers
Retirees
10
Highest
Scorers
On average: knowledge
does not equal readiness
Total Score 4.1
7.0
Planning
Having
0
Workers
5.8
Retirees
77%
Used online
resources
7%
Had strategy for investments
replacement
ratio
Lowest
Scorers
10%
Used online resources
5%
Calculated income replacement ratio
3.0
3.5
10
68%
knowledgeable about
planning for retirement
31%
had a
written budget
43%
more than $50K
in savings
68%
knowledgeable about
planning for retirement
37%
created a complete
financial plan
52%
have more than
$150K in savings
* Based on findings from two online consumer surveys of Workers and Retirees completed in July, 2014 with Greenwald & Associates, Inc. Each Index category was constructed to have a maximum possible
score of 10 (responses were weighted based on factors selected by Voya, and weighting responses using alternative factors would yield different results). The three Index category scores were then averaged
to determine a final average score for Workers and Retirees, respectively. Index scores do not reflect any single respondent’s experience. For more information visit go.voya.com/IndexReport
CN-0315-12854-0417
for investments
75%
Calculated
Workers
Knowing
82%
Had strategy
Workers
2.1